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The risks associated with the geothermal exploration works at the 140 MW Akiira geothermal power project in Kenya will be covered by Munich Reinsurance Co., reported SeeNews Renewables.
Akiira Geothermal Ltd. is currently developing the power project in two 70 MW phases. Munich Re said that it is covering exploration risk on a series of eight wells. The insurance covers risk of insufficient output due to lack of geothermal resources, said Munich Re. This is Munich Re's first geothermal insurance project in Africa.