World Bank guarantees loans for independent geothermal power firm (The Star)
The World Bank has offered loan guarantees of up to $166 million (approx Sh14 billion) for four private power producers in Kenya including one for geothermal. The Partial Risk Guarantees (PRGs) will enable the local independent power producers put up investments worth about $400 million( Sh33.2 billion) to boost power supply in the country.
The four beneficiaries include the expansion of Power 4, which will be expanding its geothermal project at Olkaria. Olkaria 1 and Olkaria 4 geothermal power plants are expected to add a significant 280 MWe to the grid by 2014.
