The African Development Bank (ADB) approved on June 6, 2018 a senior loan of US $29.5 million and a concessional loan of US $20 million from the Climate Investment Funds (CIF) Clean Technology Fund (CTF) to Quantum Power East Africa GT Menengai Ltd.The funding will support the development of a 35-MW geothermal power plant at the Menengai geothermal field in Nakuru County, Kenya, one of three modular geothermal plants in the Menengai field with a combined capacity of 105 MW.
The project is part of the CTF Geothermal Concessional Finance Program under the Dedicated Private Sector Program designed to finance programs that can deliver development results, impact, private-sector leverage and investment at scale and can be deployed rapidly and efficiently.
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From the Global Geothermal News archives:
- Wednesday, January 17, 2018 - Kenya: GDC Confirms 2 Companies Set to Break Ground for Menengai Geothermal Project in March
- Wednesday, December 13, 2017 - Kenya: Construction of 35 MW Menengai Geothermal Power Plant to Begin in March
- Wednesday, May 14, 2014 - Kenya: Three Companies Selected To Construct 100 MW Menengai Geothermal Plant
