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KenGen reports having raised US$920m for Olkaria IV

45 MW Olkaria I geothermal power plant, Kenya (source: bgr.bund.de)
Alexander Richter 30 Nov 2011

Kenya's main power producer KenGen reports that it has raised US$920 million in loans for the build up of 280 MW of geothermal power generation capacity, at its Olkaria IV project an extension of existing plants at Olkaria I and II.

With costs estimated at about $1 billion for the build up of Olkaria IV, an extension to its Olkaria I and II plants, it seems like KenGen has been able to raise pretty much all of the money needed to go ahead.

As reported today by Reuters, KenGen has raised US$920 million in loans for the 280 MW development at Olkaria. While it was not reported who the banks behind the financing is, previously mentioned were: World Bank, KfW, the European Investment Bank, the Japan International Cooperation Agency and the French Development Agency.

Source: Reuters via Yahoo