Friday, June 8, 2018

Kenya: USD 29.5 Million Loan Granted to Help Develop 35-MW Quantum Power Menengai Geothermal Power Plant

The African Development Bank and the Climate Investment Funds support their first private sector-led geothermal power plant in Kenya (ADB)

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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