World Bank approves $180m loan guarantee for Kenya's energy sector
The World Bank approved a $180-million loan guarantee on Monday for Kenya Electricity Generation Company to help strengthen the financial position of the state-run company, which produces more than 70% of the country's electricity.
The guarantee will help in long-term commercial financing of up to $300-million to refinance part of KenGen’s existing commercial loans, enhance its credit quality and promote further development of renewable energy in Kenya, the World Bank said.
Kenya has an installed generating capacity of 2 370 MW and peak demand of about 1 770 MW. KenGen, which is 70% owned by the government, has an installed capacity of 1 631 MW.
Demand for electricity is growing at about 8% a year according to the government’s transmission and generation plan.
East Africa's richest economy is ramping up electricity production and investing in its grid to keep up with the growing demand for power and to reduce frequent blackouts.
It relies heavily on renewables such as geothermal and hydropower.
The World Bank said in its statement that the project would help build on those gains and "ultimately ... lower the cost of electricity".
Kenya's energy minister ordered the sector regulator on Friday to review electricity tariffs after persistent complaints by consumers that electricity distributor Kenya Power was overcharging them.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
