December 3 (Renewables Now) - French renewable power plants operator Voltalia SA (EPA:VLTSA) will get USD 18.17 milion (EUR 16.1m) in debt for the 40-MW Kopere solar project in Kenya.
The financing will come in the form of a senior loan from the African Development Bank (ADB), the lender said on Friday. In addition to approving the USD-18.17-million facility, ADB said it is in the process of obtaining a USD-11.6-million concessional loan from the Climate Investment Fund’s Scaling-up Renewable Energy Programme (SREP).
The Kopere solar park, with a peak capacity of 50 MW, will be located at the border of the Nandi and Kisumu counties. The project, itself, includes the design, installation and operation of the photovoltaic (PV) farm and the construction of a 33/132 kV substation, as well as a 1.8-km (1.1 mile) transmission line.
The implementation of the project, set to begin next year, will contribute to Kenya’s goal to provide universal electricity access in the country by 2020. The solar park is expected to generate about 106 GWh of power annually, or enough to supply nearly 600,000 people. The electricity will be sold under a 20-year power purchase agreement (PPA) with local utility Kenya Power and Lightning Company.
(USD 1.0 = EUR 0.884)