IFC to inject Sh4.3bn into power production

The International Finance Corporation will invest a total of Sh4.34 billion in an 80 megawatt (MW) thermal power plant near Nairobi, boosting the country’s bid to meet it energy needs.

The World Bank’s private sector lending arm said it will invest Sh2.17 billion (€20.7 million) in the power plant owned by independent power producer (IPP), Gulf Power Ltd and arrange for a loan for an equal amount from Standard Bank.