Globeleq started the construction of a solar photovoltaic plant in Malindi, Kenya. With a capacity of 40 MW, the plant is located about 120 km from Mombasa. It is the first solar power plant built by an independent producer who has reached the construction phase in the country.
The $69 million needed to move forward was recently mobilized by its builder. British financing institution CDC contributed $52 million.
The construction works are planned to extend over 12 months. Its production will be divested to Kenya Power (KPLC), the national electricity distributor, under a 20-year power purchase agreement.
Globeleq is collaborating on the project with Africa Energy Development Corporation which owns 10% of the plant. The company has also partnered with IDEA Power, which will provide capital and experience in project development and construction management.