Energy systems multinational Toshiba Energy Systems and Solutions and lease financing company RentCo East Africa on Monday signed a general cooperation agreement to expand sales channels and orders of wellhead geothermal power generation systems in Kenya and the wider sub-Saharan Africa.
In a continuation of its flurry of African-focused deals signed by Toshiba during the past week, RentCo will expand its new energy leasing business through the supply of Toshiba’s Geoportable geothermal product, a wellhead geothermal power generation system with 1 MW to 10 MW output capacities.
RentCo provides structured lease financing solutions either directly to its customers or through vendor finance partnership programmes for various business assets across all sectors.
“I am confident that this collaboration will support Africa’s plan to expand its renewable energy to drive the country’s economic development,” said Toshiba business development executive Toyoaki Fujita.
Kenya lies to the west of the Great Rift Valley and, along with the African continent, is exploring its untapped geothermal resources to increase its power capacity. The Geoportable product is a compact power generation system that can be installed in a small well within a short period and can be used effectively in wells under development, Toshiba said in the statement on Monday.
Toshiba last week concluded memoranda of understanding with geothermal power development companies in Ethiopia, Tanzania, Djibouti, Uganda and Malawi in the geothermal power generation business.