Wednesday, March 28, 2018

Djibouti: $27m Loan from Kuwait Secured for 15 MW Geothermal Power Project

Signature of Loan Agreement for KD 8,000,000 for the Financing Power Station Project of Geothermal Power Generation Capacity of 15 MW in the Republic of Djibouti (News Release)

Project implementation is expected to be completed by the end of 2021.

A loan agreement was signed today in Djibouti between the Republic of Djibouti and Kuwait Fund for Arab Economic Development, whereby the Fund will provide a Loan of Kuwaiti Dinars K.D. 8 million equivalent to about US$ 27.2 million, to the Republic of Djibouti to assist in the financing Power Station Project of Geothermal power generation capacity of 15 MW. 

The project includes the drilling of about 10 wells for the production of steam and reclaimed water re-injection and the construction of a 15 MW power station at Jalla Koma (Phase I), 120 km west of the capital, Djibouti, in the area of Lake Assal. The new generation station will be connected to the central network by a 230 kV transmission line and a length of about 2 km. It also includes consulting services.