Kaishan Stock Receives a Big Bill of $65 Million for Geothermal Projects

On April 4, KRED, a platform company specializing in geothermal projects under the Kaishan Group, signed a $65 million EPC contract with Kenya's Sosian Energy and an operation and maintenance contract. worth 18.05 million dollars. Dr. Tang Yan, General Manager, signed an agreement on behalf of KRED and Sosian Energy CEO, Mr. Shaun Zambuni.

The project is located in Menengai Nakuru, East Africa's Great Rift Valley. The project has great challenges and difficulties. The owner of the geothermal field is the Geothermal Development Company (GDC), a Kenyan state-owned professional geothermal development company.

A few years ago, Sosian Energy won the bid to win the construction and operation of the power plant, purchasing 280 tons/hour of steam from GDC and needed to achieve 35MW of generating capacity, ensuring production of 290 million Kwh. electricity per year. The challenge was that the 280 t/h steam contained 3.3% non-condensable gas and a conventional steam turbine set required at least 30 t/h of steam for the injection pump for non-condensable gas. This makes it difficult to achieve 35MW of electricity generation on the Internet, challenging.

Kaishan uses steam-extended ORC modular factory technology in this project. This line of technology does not require additional steam to remove non-condensable gases. Innovative modular factory technology is used in this project. We are capable of achieving a net guaranteed capacity of 35MW and a minimum contractual guarantee of 290 million Kwh of electricity per year. We will complete the construction within 15 months and connect to the grid for power generation.

The technical solution adopted by Kaishan is two sets of steam expansion generators and three sets of ORC expansion generators. This technology is patented. The $65 million geothermal power plant EPC contract for large-scale power generation equipment marks a qualitative leap in the construction of the mountain. The large-scale power generation equipment of the geothermal power plant entered the global competition and eventually won the international contract. The strategy has taken a significant step forward. It is worth mentioning that Kaishan not only sells technology, complete sets of equipment, but also provides services, which makes conversions and upgrades take on new meaning.

During the bidding process, GDC also sent a team of 7 experts from the main leadership team to the SMGP power plant in Sumatra, built in Kaishan