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Kenya and Japan sign $400m loan agreement for 140 MW Olkaria V project

Olkaria I Units 4 & 5 Geothermal Plant. Source: KenGen
Alexander Richter 9 Mar 2016

Kenya and Japan signed today a $408 million loan agreement for the construction of the 140 MW Olkaria V geothermal power project of KenGen in Kenya.

Having reported on proposed funding of Sh38 billion for the Olkaria V project by Japan International Cooperation Agency JICA, back in late January this year, it now seems to be have been finalized.

Reuters reported today, that a loan agreement valued at Sh 46 billion ($408 million) has been signed between the Kenyan and Japanese government today.

The loan finances the construction of the 140 MW Olkaria V plant, with an expected construction start in July this year and the plant to be operational by the end of 2018.

Source: Reuters