EAIF, Finnfund to structure US$30m debt financing for Kaptis hydropower plant project

Private Infrastructure Development Group (PIDG) company, Emerging Africa Infrastructure Fund (EAIF), has been appointed a joint mandated lead arranger (JMDA) of the US$30 million debt finance package being raised by Tembo Power to build the Kaptis hydro-electric power plant in Western Kenya.

EAIF, through its manager, Ninety One, will work alongside Finnfund as JMDA. Finnfund, like EAIF, is an impact investor.

Tembo Power, together with its partners Metier and WK Power, will inject some US$14 million in equity. Tembo Power aims to have the new plant operational in late 2022.