Trending
- Kenya-Ethiopia Trade Relations: Legislators Advocate for Policy Alignment to Boost Ties
- Visualising the state of debt in Africa 2024
- Abu Dhabi radiates optimism as over 300 startups join AIM Congress 2024
- TLcom Capital Raises $154 million in Funding to Boost Its African Growth
- Africa’s $824Bn debt, resource-backed opaque loans slowing growth — AfDB
- LB Investment brings $1.2 trillion portfolio display to AIM Congress spotlight
- AmCham Summit kicks off, setting course for robust future of US-East Africa trade ties
- Why the UN is raising the red flag on the UK-Rwanda asylum treaty
Browsing: Solar power generation in Kenya
Globeleq, a power sector leader in Africa, has reached financial close of the 40 MW (52 MW p) Malindi Solar photovoltaic (PV) project in Malindi, Kenya and is commencing construction of the plant.
The US$69 million project is located in Langobaya, Malindi District, Kilifi County, about 120 kms north-east of Mombasa and is one of the first IPP owned utility scale solar power plants in Kenya to begin construction. Electricity will be sold through a 20-year agreement with the national distribution company, Kenya Power.
Globeleq has been working with the project originator, Africa Energy Development Corporation (AEDC), who will retain 10% ownership of the project, and its partner, IDEA Power, to bring the project to construction by providing equity, project development and construction management experience. CDC, the UK’s development finance institution, as the mandated lead arranger, has sourced US$52 million in debt financing including $20 million from DEG, the German …