NewEnergyNews: $109MIL FROM GERMAN BANK BACKS KENYA GEOTHERMAL

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    Friday, July 18, 2014

    $109MIL FROM GERMAN BANK BACKS KENYA GEOTHERMAL

    KfW provides financing for 200 MW geothermal project in Kenya

    July 15, 2014 (PennEnergy)

    “The German Development Bank (KfW) has agreed to an almost $109 million loan to Kenya to build…[t]he Bogoria-Silali geothermal project, which is expected to have a total production capacity of 200 megawatts…[when] developed by the Geothermal Development Company (GDC)…In addition to the Bogoria-Silali geothermal project, KfW also provided a $45 million loan for the Nairobi Water Distribution Project to improve access to water in Kenya. These projects are part of Kenya's Vision 2030, which aims to enhance economic opportunities and improve [environmental quality]…Geothermal projects in Kenya have attracted investment from other banks like the African Development Bank (AfDB) and the French Development Agency (AFD). Kenya plans to drill 20 wells with the $109 million loan from KfW.” click here for more

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