Kenya is soon to commence construction of Kaptis hydropower project. A joint development agreement, to bring the project through to financial close and construction in 2020, has been signed between the project owner and an equity fund manager. The ag...
Kenya is soon to commence construction of Kaptis hydropower project. A
joint development agreement, to bring the project through to financial
close and construction in 2020, has been signed between the project
owner and an equity fund manager. The agreement was signed between
project developer, Tembo Power with Metier, an independently owned
private equity fund manager, together with its partner WK Construction, a
leading contractor in the field of hydropower in sub-Saharan Africa.
The deal allows the partners to appoint lenders and prepare for
financial closing, expected this year, and to start construction. The
14.7MW hydropower project is located in western Kenya.
Tembo Power began development of the Kaptis hydroelectric project in
2013, following preliminary studies conducted by its partner Humphrey
Mulindi. The purpose of the study was to determine the real potential of
the site selected for the future hydroelectric power plant.
The engineering, procurement and construction contract for the future
hydroelectric power plant will be executed by WK Construction, a company
specialized in hydraulics. This company, based in South Africa, is one
of the financial partners of the project, in which it holds a 20% stake.
Metier, now holds a 40% stake. The South African-based financial
company has decided to place this investment within the framework of its
Metier Sustainable Capital International Fund II. It is a fund that
targets investments offering social and environmental benefits as well
as financial returns. The remaining 40% will be owned by Tembo Power.
Source : www.steelguru.com