Monday, March 27, 2017

Kenya: Letters of Intent Signed for 70 MW Extension of Olkaria I Geothermal Plant

Kenya signs Sh 6.7billion loan for electricity connection (The Standard)

The government has signed Sh6.7 billion towards last mile connectivity project that will enable 1.5 million people access electricity. The loan signed with European Investment Bank (EIB) concerns a multiple scheme electrification project, targeting universal access to electricity for the Kenyan population by 2020.

Thanks to today’s signature over 300,000 Kenyan households – up to 1.5 million people - will soon be connected to the electricity grid, a basic condition for further economic growth.

Two further projects that we have committed to will improve access to Mombasa harbour and support geothermal energy at Olkaria” said EIB Vice President Pim van Ballekom, responsible for operations in East Africa.

At Treasury, letters of intent were signed for two further very advanced projects, one being an extension of the existing Olkaria I geothermal plant. Here, the financing - for a total amount of EUR 113 million - will support the addition of a 70 MW turbine, as well as the construction of the necessary wells, steam gathering system and interconnection facilities.

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