Toshiba signs geothermal MoU with Uganda

Toshiba Corp (TYO:6502) has signed a memorandum of understanding (MOU) with Uganda's Ministry of Energy and Mineral Development (MEMD) to partner on geothermal power, the Japanese conglomerate said Saturday.

The agreement is designed to help Uganda develop its rich geothermal potential -- estimated at 500 MW.

"The development of Uganda's geothermal energy resources is in line with our energy policy objectives of increasing power generation capacity and diversifying our energy mix in order to achieve least cost, affordable and stable energy supply," said Fred Kabagambe-Kaliisa, permanent secretary at MEMD. Currently, hydropower accounts for about 60% of the country's power generation capacity.

Toshiba said the MoU will see it collaborate in the development and supply of major equipment for a geothermal power plant, create operation and management guidelines, and cooperate in personnel development.

The MoU was signed during the Tokyo International Conference on African Development 2016 in Nairobi, Kenya.

The Japanese group says it has a 23% share of the world's installed geothermal capacity, having so far delivered 3,400 MW of geothermal turbines.

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