@BdAfrica

KenGen seeks Sh5.7bn to set up solar power plant - 9 months ago, 11 July 11:48

Neville Otuki

Power producer Kenya Electricity Generating Company (KenGen) #ticker:KEGN has approached multilateral lenders for Sh5.7 billion funding to construct its first solar-powered station at.

The company said it was seeking the funds from the World Bank, French Development Agency (AFD) and KfW of Germany – the traditional lenders for the State-owned power firm.

Construction of the proposed 45-megawatt (MW) plant is expected to take 14 months. It will be located in Embu near the company’s hydroelectric power stations and is known as the Seven Forks Solar project.

“We finished feasibility studies for the project and we’re now seeking funding,” said KenGen business development director Moses Wekesa. The project will sit on 100 hectares of land.

Upon securing the funds and preparing the engineering, procurement and construction (EPC) contract, the firm will then sign a power purchase agreement (PPA) with electricity distributor Kenya Power #ticker:KPLC.

The PPA indicates the tariff at which the producer will sell the ...
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