Nairobi, Oct. 21 -- Djibouti's State-owned geothermal agency has offered to pay Kenya Electricity Generating Company (KenGen) about Sh129 million ($1 million) as the first instalment towards a five-year-old debt arising from a geothermal drilling contract.

KenGen says in the latest annual report that the Djibouti Office of Geothermal Energy Development (ODDEG) has proposed an initial payment of $1 million against outstanding invoices of $2.13 million (Sh276.03 million), offering a potential breakthrough in the power producer's debt recovery efforts.

Published by HT Digital Content Services with permission from Business Daily....