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IFC plans Sh6bn Menengai geothermal project loan
Sosian completed its plant and started supplying the electricity to Kenya Power in 2023. Globeleq and OrPower 22 expected to complete their plants and link them to the national grid by June 2026.
The International Finance Corporation (IFC) will provide a $48 million (Sh6.2 billion) loan to partly fund the construction of OrPower 22’s geothermal power plant in Menengai, Nakuru County.
IFC —the private sector lending arm of the World Bank— disclosed the two loan tranches of $30 million (Sh3.87 billion) and $18 million (Sh2.32 billion) for the project whose total cost is $92 million (Sh11.89 billion). Kaishan Group and other lenders will top up the balance.
