Toshiba and RentCo sign agreement to expand geothermal power generation business in Sub Saharan Africa
Toshiba Energy Systems & Solutions Corporation, a global player in geothermal power generation systems, has concluded a General Cooperation Agreement with RentCo East Africa Limited (RentCo), a major financial leasing company in Kenya and the wider Sub Saharan Africa.
RentCo is a Private Limited Company that provides structured lease financing solutions for all business sectors across all sectors.
Toshiba as a global provider of geothermal turbines with fixed experience in installing and commissioning different sizes of turbines around the world, offers a geothermal product line-up which includes "Geoportable ™," a wellhead geothermal power generation system that generates 1 to 10 megawatts output capacities.
Under the terms of the Agreement, Toshiba wants to collaborate in the development of RentCo's new energy leasing business to supply "Geoportable ™".
As the country lies at the west of the Great Rift Valley, the African continent is exploring its untapped geothermal resources to boost the country's power capacity. Addressing this potential, Toshiba's "Geoportable ™" is a compact power generation system that can be installed in a short period and has the ability to utilize well under development effectively.
Toyoaki Fujita, Business Development Executive or Toshiba said, "I'm confident that this collaboration will support Africa's plan to expand its renewable energy to the country's economic development."
Toshiba concluded MOUs with geothermal power development companies in Ethiopia, Tanzania, Djibouti, Uganda and Malawi in the geothermal power generation business. Toshiba will continue to contribute to stable electricity supply and the realization of a low-carbon society.