Tembo Power, the developer of the Kaptis hydropower project, has selected Ninety One SA (Pty) of Emerging Africa Infrastructure Fund (EAIF) and FinnFund to finance its project in Kenya. The Kaptis plant will have a capacity of 15 MW and will be operational in 2022.
The financial partners of the Kaptis hydropower project are now known. They are FinnFund, a Finnish company specialising in development finance. It will invest in the project alongside Ninety One SA (formerly Investec Asset Management) of Emerging Africa Infrastructure Fund (EAIF), a fund owned by Private Infrastructure Development Group (PIDG).
FinnFund and EAIF/Ninety One SA will provide the loan liquidity for the construction of the Kaptis hydropower plant in Western Kenya. “I am pleased to welcome EAIF/Ninety One and FinnFund into our consortium for the actual construction of Kaptis. Both lenders are major players in the African infrastructure sector with specific knowledge. They have successfully demonstrated their skills in financing small hydropower projects in sub-Saharan Africa”, says Raphael Khalifa, the founder of Tembo Power, a company based in Ebene, Mauritius, and the project sponsor.
The commissioning of the hydropower plant is scheduled for 2022.
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