| Project Detail |
On December 24, 2024, The Multilateral Investment Guarantee Agency (MIGA) a member of the World Bank Group, issued a guarantee to Globlelq Africa Limited of United Kingdom for their US$29.9 million equity and quasi-equity investments to Globeleq Menengai Geothermal Limited of Republic of Kenya (Kenya) against the risk of breach of contract for a period of 20 years. The Menengai project is a greenfield 35-megawatt (MW) geothermal power plant. The project involves the financing, design, procurement, construction, installation, completion, testing, commissioning, operation, and maintenance of a 35MW geothermal power plant, including associated and auxiliary works, equipment, infrastructure, and interconnection facilities located at Menengai, Nakuru County (the Project). The estimated 280-gigawatt hour of annual power generated by the geothermal power plant will be evacuated via a 132 kilovolt (kV) on-site substation and a 13-kilometer double circuit 132 kV line from the Menengai site to Soilo substation, an associated facilities to the project. Environmental Categorization The Project is a category B under the MIGA’s Policy on Environmental and Social Sustainability. Click here to view the environmental and social review summary. |
