Nairobi, September 14, 2026 — Kaishan Group Co., Ltd. has signed a Collaboration Framework Agreement with Kenya’s Geothermal Development Company (GDC) in Nairobi, paving the way for joint development of five geothermal blocks in the East African Rift Valley.

Cao Kejian, Chairman of Kaishan Holding Group Co., Ltd., and Stephen Busieney, Acting Managing Director and CEO of GDC, signed the agreement on behalf of the two parties.

Under the framework agreement, Kaishan and GDC plan to pursue cooperation in five geothermal blocks within GDC’s licensed concession area: Silali, Paka, Korosi, Baringo and Suswa. The five blocks are estimated to have sufficient geothermal resources to support approximately 2 GW of installed capacity.

The agreement is non-binding and is intended to lay the groundwork for substantive cooperation between the two parties. Following the signing, Kaishan and GDC will begin due diligence and hold discussions and negotiations on the joint exploration, assessment and utilisation of GDC’s geothermal resources, as well as potential cooperation on green hydrogen and green ammonia production.

Based on mutually agreed development plans, the two parties will subsequently enter into separate binding cooperation agreements for each geothermal block.

The agreement comes as Kenya seeks to expand its renewable power supply. The Kenyan government has set a target of achieving 100% green electricity by 2030 while reducing electricity tariffs. The President of Kenya has also outlined a plan to increase the country’s total installed power capacity to 10 GW over the next seven years.

Kaishan’s existing geothermal activities in Kenya also provided a basis for the new cooperation. The group has built two 35-MW power plants at GDC’s Menengai geothermal field, which have been recognised by Kenya’s Ministry of Energy as among the country’s outstanding geothermal power facilities.

The framework agreement also identifies the use of surplus electricity during off-peak periods to produce green hydrogen and green ammonia as one of the cooperation objectives. The initiative is intended to support the balance between electricity supply and demand on Kenya’s grid and help reduce electricity prices.

If implemented, the cooperation would support Kaishan Group’s strategic ambitions to become one of the world’s leading geothermal power developers and operators, while strengthening its position as a major global participant in green hydrogen and green ammonia development and operations.

Compiled from：Kaishan Group Co., Ltd.