Globeleq signs debt funding for 35 MW Menengai geothermal project in Kenya

Private power company Globeleq has signed financing agreements with development finance institutions the African Development Bank (AfDB), Finnfund and the Eastern and Southern African Trade and Development Bank (TDB) for $72-million debt funding for the 35 MW Menengai geothermal project in Nakuru county, Kenya. Globeleq is providing equity, project development and construction management experience. Construction of the project is expected to start during the first quarter of 2023, once financial close has been reached.