KenGen secures $79 million EIB loan for Olkaria I Unit 6 extension
The European Investment Bank approves a loan of $79 million for the 70 MW Unit 6 extension of the Olkaria I geothermal power plant by KenGen in Kenya.
As part of the approval of EUR 9.4 billion of new financing for 56 projects across Europe and around the world, the European Investment Bank also announced the approval for the financing of Olkaria
The financing of EUR 70 million ($79 million) will be provided for 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.
Source: EIB release, details about the project (EIB)