Kenya is set to significantly improve its geothermal capacity with the signing of financing agreements for the 35MW Menengai geothermal project by independent power producer, Globeleq, and the African Development Bank (AfDB); the Eastern and Southern African Trade & Development Bank (TBD); and FinnFund.
The signing – which would see $72 million in debt funding committed to the project – places the project on track for the start of construction in 2023 and commercial operation by 2025, with Globeleq serving as operator, providing equity, project development and construction management.
