EIB agrees €155m loan for Kenyan geothermal plant

The European Investment Bank (EIB) has offered a €155 million loan to Kenya-headquartered Akiira Geothermal, which is partly owned by Centum Investments, for generating geothermal electricity. The power project is based in Akiira Valley, in Naivasha, and will have a capacity of 70MW upon completion.

The electricity will cost Sh9.5 per unit (9.23 US cents) under a power purchase agreement signed in August 2015 with electricity distributor Kenya Power.