News
19 March 2018
JICA agrees $380m loan to upgrade Kenyan geothermal power plants
In:
Renewable energy
Region:
Middle East & Africa, Asia-Pacific
The Japan International Cooperation Agency (JICA) is financing a $380 million project to upgrade three Olkaria geothermal power plants in Naivasha, Kenya, with new turbines and new electrical systems.
The upgrade of the Olkaria I Units 1, 2 and 3 will expand the capacity of the ageing steam-powered plant from 45MW to 50.7MW when completed in November 2021.
Kenya will repay the concessional loan at 1% interest rate over a period of 30 years, inclusive of a ten-year grace period.
