Globeleq starts construction of 35 MW geothermal project in Nakuru

Globeleq has started the construction of its 35 MW Menengai geothermal power plant project located in Nakuru County, Kenya with its project partner Geothermal Development Company (GDC).

The project is a greenfield facility with a total investment of US$108 million. Globeleq has signed a financing agreement with the African Development Bank (AfDB), the Eastern and Southern African Trade and Development Bank (TDB), and Finnfund for a US$72 million debt funding for the project. 

The project is expected to be operational in 2025. Once operational, electricity will be sold to Kenya Power, the national distribution business, under a power purchase agreement (PPA) for the same period of time.