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.

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