OrPower 4 Receives $265m For Kenyan Geothermal Plant (Ventures Africa)
OrPower 4, has received 18.5 billion shillings ($220 million) for the development of a 100 MWe geothermal power plant in Kenya over the weekend through parent company, Ormat Technologies. This is the the first installation of a 26.06 billion shillings ($310 million) loan from the U.S. government agency Overseas Private Investment Corporation (OPIC).
According to Kenya’s BusinessDaily, the company said “The remaining amount of up to $45 million (3.78 billion shillings) of tranche II of the OPIC loan is expected to be drawn over time prior to the commercial operation” of the expansion of the Olkaria III geothermal plant in mid next year.
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