Spanish independent power producer, Alten Energías Renovables has reached the financial closure for its Kesses solar power plant near Eldoret in western Kenya. The solar project is majorly supported by loans from Emerging Africa Infrastructure Fund (EAIF) and South African Standard Bank Group.

EAIF will be providing a loan of $35 million to Alten for the $87 million solar generation facility. The Standard Bank has arranged a $41 million amount in debt including a term loan, a value-added tax, and a debt service reserve facility.

Post completion of the plant’s construction, the commissioning of the solar project is expected in 2023. Alten will sell the generated electricity to the national energy utility ‘Kenya Power and Lighting Company (KPLC), under a 20-year power purchase agreement. The plant’s output will be connected to a pre-existing 230 kV transmission line between the 56 MW Turkwel hydroelectric plant and the Lessos substation.