Page 11 - AfrElec Week 06 2022

AfrElec RENEWABLES AfrElec

EAIF extends $35mn loan

towards 40MW solar plant

near in Kenya’s Rift Valley

KENYA THE Emerging Africa Infrastructure Fund to EAIF, was the mandated lead arranger of the
(EAIF) has provided a $35mn loan towards project finance to Alten and is supplying $41mn
building a 40MW solar plant near in the Rift in debt comprising a term loan, VAT and Debt
Valley region of Kenya, near Eldoret. Service Reserve facility.
Kenya is now the ninth African country Construction of the Kesses plant has already
where EAIF, part of the Private Infrastructure begun and is expected to finish in the second
Development Group (PIDG), has supported quarter of 2022. Alten will sell all its output to
renewable energy projects in recent years, after Kenya Power and Lighting Company (KPLC),
Burkina Faso, Cameroon, Côte d’Ivoire, Mali, the national energy utility, on a 20-year take-or-
Mozambique, Rwanda, Tanzania and Uganda. pay Power Purchase Agreement.
The first part of the loan to construct the Alten is an independent power producer
$87mn plant Kesses plant was disbursed to Alten (IPP) with international know-how in develop-
Kenya Solarfarms BV, a local unit of the Alten ing, financing and operating photovoltaic solar
Energías Renovables Group, in late December power plants in Sub-Saharan Africa, Central
2021. America and Europe. ™
Standard Bank, also a long-established lender
AG Energy to build

200-MW solar park in

north-west Libya

LIBYA IRELAND-BASED power producer AG Energy Last week, the PIB and the state-owned Gen-
will build a 200-MW solar park in the Ghadames eral Electricity Company of Libya (GECOL)
municipality in the north-west of Libya, accord- adopted the implementation of the country’s
ing to a statement by the company. 2025-2030 energy strategy. The strategy includes
The new facility will be the first solar plant to projects in the area of conventional energy and
be built in Libya by a private company. solar power that will be financed by local and
AG Energy has received the authorisation to foreign investors.
build the facility from Libya’s Privatisation and The Libyan government is making efforts to
Investment Board (PIB) earlier this month. diversify its energy mix and harness the coun-
The company has previously implemented try’s solar and wind potential. By 2030, Libya
energy projects in Africa in Algeria, Tunisia and aims for 22% of electricity generation to come
Nigeria. from renewable energy. ™

Week 06 10•February•2022 www. NEWSBASE .com P11