NAIROBI, Kenya, Aug 21 – Toyota Tsusho Corporation, the parent company of Toyota East Africa has expressed its intention of investing in the recently launched program that aims to generate environment- friendly energy.
Toyota East Africa Chairman Amb Dennis Awori told reporters that they were in negotiations with stakeholders in the National Green Power Action Plan to work out how they can inject funds in geothermal and wind power generation.
“We are at the point where we are studying the Plan and the identified sources of power to see how best we can participate. But the model we normally use is to bring together a consortium that includes technology, project management and finances,” he explained adding that they would be guided by what the private sector was required to do to actualise the program.
The Plan is being implemented at a time when the country is facing a power crisis that has resulted in major blackouts across the country.
Mr Awori said details of how much money would be pumped into these projects would be decided in due course.
“We expect to be making the investments within months rather than years. TTC has a turnover of about $67 billion so we will be making a sizeable investment but the details will come through after proper planning and feasibility studies,” the Chairman said.
Pointing to the 31 power projects that the corporation has in Egypt and many others African nations, Mr Awori said they have the expertise and experience to carry out these long term projects which will also include bio fuel production and water treatment systems.
He spoke during a media workshop where Toyota East Africa Managing Director Tomonori Umehara said they expect their vehicle sales this year to drop owing to the tough economic environment.
The firm has already sold 1,379 vehicles and expects to sell about 2,500 by the close of the year. This is will be a 20.6 percent drop compared to last year’s sales where 3,152 cars were purchased.