Kenya’s Moi family — the family of the late President Daniel Arap Moi — has been granted permission to generate and supply electricity from one of its assets, a multi-million dollar power plant built by Sosian Menengai Geothermal Power Limited.
Kenya’s government has recently issued a license to Sosian Menengai Geothermal Power, a company owned by Gideon Moi, a prominent Kenyan politician and businessman and son of the late president. The move is expected to help meet the country’s increasing energy demands.
Gideon Moi recently repurchased a majority stake in Sosian Menengai Geothermal Power from Devki Group, a privately-owned Kenyan conglomerate led by businessman Narendra Raval, as part of a concerted effort to recover some of the family’s assets.
The plant, which is being built by Sosian Menengai Geothermal Power under a 25-year build-own-operate (BOO) agreement with Kenya Power through a public-private partnership (PPA), will generate 35 MW of net geothermal power.
Gideon Moi’s son, Kigen Moi, a director at the firm, revealed that the multi-million dollar plant, which will include foundations, buildings, turbines and generators, pumps, condensers, a gas removal system, a cooling tower, an electrical and control system, and other balance of system elements, will begin operations in April 2023, despite previous regulatory and funding challenges.
“We expect to be in operation by end of April 2023 (early power) and June 2023 in terms of full power. In the first phase, we are expecting 22 Megawatts because Units 1 and 2 are ready,” he stated.
Kenya’s Moi family ranks second as the country’s largest landowner
The Moi family is said to be Kenya’s second-largest landowner, after the Kenyatta family, with their portfolio boasting nearly 300,000 acres of prime real estate.
The family’s influence in the media sector is also significant, as they own the majority of Standard Media Group, which encompasses the popular TV network Kenya Television Network, newspapers, and radio stations.
Unofficial estimates in Kenyan media place the Moi family’s wealth at more than $3 billion, reflecting their significant financial resources.
In 2021, the family sold a 51-percent stake in Nairobi-based logistics and aviation handling firm Siginon Aviation Limited to National Aviation Services for Ksh1.7 billion ($15.2 million), while retaining a 12-percent shareholding in the broader Siginon Group.
