Kenya Power secures $190 million loan for power infrastructure upgrade
Kenya, Nairobi: Kenya Power secured a $190 million loan from Standard Chartered Bank to upgrade its transmission network.
Kenya, Nairobi: Kenya Power secured a $190 million loan from Standard Chartered Bank to upgrade its transmission network.
The government plans to add 5,000 MW to the existing 1,664 MW of generation capacity by 2017, according to The Africa Report.
Managing director Ben Chumo said in a statement: “Kenya Power will use the funds to make huge investments in acquisition of additional transformers and other construction materials in the next one year.”
“These materials will be used to construct new substations and power lines while at the same time upgrading others to enhance capacity of the power network and improve quality and reliability of power supply to customers.” he added.
The upgraded network is expected to cater for additional 1 million new customers including industrial, commercial and domestic users.
Source: The Africa Report
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