The Emerging Africa Infrastructure Fund (EAIF) will lend $35 million to the Kesses solar generation plant in Kenya.
The EAIF, which is part of the Private Infrastructure Development Fund Group (PIDG), will provide the loan over a 15-year term. The Kesses solar generation facility will be built near Eldoret in the Rift Valley region of Kenya.
Sine Zulu, investment specialist with EAIF’s investment managers, Ninety One, said the Kesses plant would bring multiple benefits to Kenya’s economic development. “It will also play an important part in combating climate change and strengthening Kenya’s ability to recover from COVID-19. EAIF is now established as a lender of choice for renewable energy companies investing in Africa.”
Kenya has become the 9th African country where EAIF has supported renewable energy projects in recent years. The others are Burkina Faso,…