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Concessional loans to fund bulk of KenGen projects
KenGen Managing Director and CEO Eng Peter Njenga (left) and Principal Secretary, State Department for Energy Alex Wachira address journalists at Eka Hotel, Nairobi on November 30, 2023.
Kenya Electricity Generating Company (KenGen) will rely heavily on concessional loans to raise $4.3 billion (Sh555.6 billion at current exchange rates) to finance projects to generate an additional 1,500 megawatts of power.
Managing director Peter Njenga says the firm is keen to raise cheap money to fund the 23 projects spread across geothermal, wind, hydro, and solar power generation.
