The World Bank announced that it would guarantee four Kenyan IPP projects to help boost the electricity by 285 MW over the next two years.
The Thika Power project is expected to produce 87 MW by 2013, and would be the first project to receive the $166 million risk guarantee from the Bank. "This… financing for the energy sector will enable Kenya to mobilize additional financing of $623 million, including $400 million in private investments and commercial lending," Johannes Zutt, the Bank’s country director for Kenya, said at a press briefing.
Other IPPs to benefit from the Bank’s backing are Triumph Generating Co., Gulf Power, and Ormat Technologies’ OrPower.
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