Sessional Paper No. 03 of 2011 on Kenya Government Guarantee of a Loan of Japanese yen 29,516,000,000.00 Equivalent to Ksh 33,353,080,000.00 from the Japan International Cooperation Agency (JICA) to the Kenya Electricity Generating Company for Financing the Olkaria 1 Unit Four and Five Geothermal Power Project

Abstract

With the full support of the Government, KenGen has successfully negotiated for a loan of JPY 29,516 million equivalent to Ksh 33.3 billion from Japan International Cooperation Agency (JICA) to finance Olkaria 1 units four and five geothermal power plant to generate 140MW of electricity. This project is meant to create a conducive investment climate and enabling environment for economic growth in Kenya. The implementation of the project will contribute an additional 140MW to the national power grid.