Updated geothermal model, power capacity estimates and financial model for resource development in Paka geothermal Field

Paka geothermal field is the latest geothermal area in Kenya to be drilled and a focus of interest for the Geothermal Development Company. The field is located in the northern Kenya rift segment. The volcanic edifice is constructed on a 136 km2 area by four different volcanic sequences of basalt, intermediate rocks, and trachyte spanning 390-8 ka. The magma activity advected heat flux ranging between 110-134 mW/m2. Evidence shows that the Paka hydrothermal system is magmatically driven by a heat source associated with a 900 °C shallow trachytic magma body at 3-5 km. The updated geothermal model has identified two subfields, namely the Summit Area Field and the Northeast Field. We estimate a power capacity of 160 MWe and 350 MWe as P90 and P10 respectively using the power density method. A financial model was undertaken with several assumed parameters. The results indicate that a 50 MWe would be economically viable with econometric indicators, such as the net present value (NPV), showing positive values while the Internal rate of return (IRR) showing figures above the considered weighted average cost of capital (WACC) in the model.