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| (Courtesy Akiira Geothermal Limited) |
The European Investment Bank (EIB) has offered a Sh19.5 billion loan to a firm partly owned by Centum Investments for generating geothermal electricity.
The EIB on Tuesday said that the €155 million (Sh19.5 billion) financing package to Akiira Geothermal Ltd will be finalised soon.
The company started exploration in August 2015, targeting to drill up to 15 steam wells, each with an average capacity of five MW, bringing the expected installed capacity to about 75 MW.
Akiira Geothermal is owned by Centum Investments in conjunction with three other non-Kenyan entities that include Ram Energy of the United States, Marine power of the USA and Frontier Investment Management.
Akiira Geothermal is owned by Centum Investments in conjunction with three other non-Kenyan entities that include Ram Energy of the United States, Marine power of the USA and Frontier Investment Management.
