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KenGen looking for Sh5.7b financing for solar plant in Embu

The solar plant is part of KenGen’s medium-term plan to add 631MW to the national grid./FILE

NAIROBI, Kenya, Jul 16 – KenGen is looking to raise Sh5.7 billion for a 45 megawatt (MW) solar power plant.

The power generator is seeking to secure financing from multilateral lenders to finance the solar power project which will be located in proximity to its Hydropower plants in Embu and take 14 months to complete.

The solar plant is part of KenGen’s medium-term plan to add 631MW to the national grid.

The first of the geothermal power plants, the 168MW Olkaria V, is expected to be commissioned in 1st July 2019.

Genghis analysts expect accelerated revenue growth above 15.8pc projected growth by 2022, buoyed by the additional capacity enhancement from this solar plant.

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