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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toshiba Corporation    6502   JP3592200004

TOSHIBA CORPORATION

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Toshiba Corporation : Toshiba to Supply Geothermal Equipment to Kenya's Largest Geothermal Power Plant Complex

11/07/2011 | 01:55am EST
--To supply four 70,000kW steam turbines and generators in 2013--
7 Nov, 2011

TOKYO-Toshiba Corporation (Tokyo: 6502) today announced that the company has been awarded a contract to supply four 70,000kW steam turbines and generators for the Republic of Kenya's largest ever geothermal plant project, the Olkaria I and Olkaria IV geothermal power plants. The contract is Toshiba's first for the supply of geothermal power equipment in Africa.

Kenya Electricity Generating Company Ltd. awarded a full turnkey contract for Olkarai I and IV to a consortium of Japan's Toyota Tsusho Corporation (Tokyo: 8015) and Korea's Hyundai Engineering Co., Ltd. on November 7, 2011. Toshiba was selected by Hyundai Engineering to supply the turbines and generators for the project following a comprehensive evaluation of the company's extensive supply experience and the equipment's performance and reliability.

Located in the Rift Valley 100 kilometers northwest of Nairobi, Kenya's capital, the Olkaria I extension and Olkaria IV will have a combined output of 280,000kW, the largest of any power generation complex in Kenya. They will deliver renewable energy with minimal emissions of CO2 and raise the share of geothermal power in Kenya's supply mix to approximately 25%. The plants will make a significant contribution to overcoming Kenya's current electricity shortage. Olkaria I, a major extension to a current facility, is funded by a yen loan from the Japan International Cooperation Agency (JICA), a Japanese government agency.

Toshiba is an industry leader in power generation equipment, with world-class capabilities in nuclear, thermal and renewable power generation equipment.  Toshiba entered the geothermal power business in 1966 with the supply of a steam turbine and generator to the Matsukawa geothermal power plant, Japan's first geothermal plant, and subsequently expanded the business to North America, Southeast Asia and Iceland. Toshiba is today the world leader in the manufacture of steam turbines and generators, with a market share of 25%*1, and has supplied a total of 52 units with an installed capacity of 2,800,000kW.

Going forward, Toshiba will promote its geothermal business and the supply of high performance, highly reliable equipment at the global level. This move is in line with the company's aim of expanding its overall renewable energy business, including wind, hydroelectric and solar photovoltaic power, as a means to contribute to stable power supply and the realization of a low carbon society.

*1 Source:  Toshiba

Outline of the Olkaria Project
Name of plants: Olkaria I Geothermal Power Plant (extension)
Olkaria IV Geothermal Power Plant (new)
Utility: Kenya Electricity Generating Company Ltd.
Scope of supply: Four 70,000kW steam turbines and generators
Commercial operation: April 2014

Information in the news releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement, but is subject to change without prior notice.


© Publicnow 2011
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Net income 2021 79 817 M 769 M 769 M
Net cash 2021 96 238 M 927 M 927 M
P/E ratio 2021 17,4x
Yield 2021 1,09%
Capitalization 1 351 B 13 001 M 13 012 M
EV / Sales 2021 0,38x
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Nbr of Employees 125 648
Free-Float 93,4%
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Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
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