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Energy firm gets Sh102 million for Kibera power plant

The project had received a financial commitment to the tune of Sh1.31 billion. FILE PHOTO | NMG
The project had received a financial commitment to the tune of Sh1.31 billion. FILE PHOTO | NMG 

Asticom Kenya, a solid waste-to-energy start-up, has landed a Sh102.56 million ($995,000) grant to partly fund a 10-megawatt power plant in Nairobi’s Kibera slum.

Sustainable Energy Fund for Africa (SEFA), a multi-donor trust fund managed by African Development Bank (AfDB), has released the cash to cover the costs of the proposed project’s full environmental and social impact assessment and detailed engineering designs.

The grant will also help shoulder legal advisory services as well as financial and transaction advisory services, AfDB said in a statement.

The Sh9.28 billion ($90 million) SEFA, which is focused on sustainable energy agenda In the continent, is funded by the governments of Denmark, the UK, the US and Italy.