News

EIB with $80 million financing for Olkaria I unit 6 under appraisal

Olkaria I Units 4 & 5 Geothermal Plant. Source: KenGen
Alexander Richter 13 Jan 2016

The European Investment Bank (EIB) has a $80 million financing package for the Olkaria I unit 6 expansion by KenGen in Kenya under appraisal.

The European Investment Bank (EIB) is considering taking part in the financing of an additional unit to the Olkaria I geothermal power plant by KenGen in Kenya.

The project consists of the extension of the existing 140 MW Olkaria I Unit 4 & 5 geothermal power plant with an additional 70 MW turbine (Unit 6), the necessary wells, steam-gathering system and interconnection facilities.

The proposed EIB financing currently under appraisal is EUR 72 million ($80 million) of the total project cost of EUR 288 million ($316 million)

Further details via the link below.

 

Source: EIB appraisal announcement