Role of financial institutions on the growth of geothermal development company, Kenya

Abstract

The study primarily sought to find out the influence of financial institutions on the growth of Geothermal Development Company. This study used descriptive research design. Out of a population of 113, a sample of 76 GDC staff from different departments was taken. The study employed a questionnaire for data collection. Data were analyzed using SPSS. Both descriptive and inferential statistics were employed in the analysis. The results were presented in form of tables. The study noted that long-term loans and grant financing had a positive and significant relationship with growth of the GDC. It was further showed that, among the studied contributors of financial institutions, grant financing was the most crucial while long-term loans were the least important in enhancing the growth of the GDC. The study concluded that long-term loans were important in enhancing the growth of the energy company. Grant financing was deduced to facilitate the growth of the company. The study recommended that the GDC should seek longterm loans for capital projects. In respect to grant financing, the study advised that the GDC should have a competent team mandated with drafting proposals for grants from leading financial institutions.