Kenya Electricity Generating Company (KenGen) intends to raise $12 billion for building six geothermal power plants with the generation capacity of 585 megawatts by 2016. Eddy Njoroge, KenGen Managing Director, told Reuters that the company is open to different models for raising funds. "We are open to different financing models," he said in an interview. "We will be looking at different options like joint ventures ...The most viable one is build and transfer. We have the steam, we want somebody to come and build the plant and then operate it (to recover the cost) and then transfer it to us." "Part of the problem of a right issue right now is that the market has been very bearish. We may not get the proper value of the stock. A bond of course goes to our balance sheet since it's a borrowing," he said.