M a r k e t N e w s
Kenya Power to Spend Sh6b on Expansion of Electricity Distribution Network
Posted on : Wednesday , 16th December 2015
Kenya Power and Lighting Company has secured a Sh6 billion loan from the French Agency for Development (AFD) to finance expansion of the electricity distribution network.
The expansion, which will take place in Mombasa, Kisumu and Nairobi, is expected to boost KPLC's reliability and translate into reduced power outages.
"The financing, the first of its kind, is a clear indication that Kenya Power has come of age to directly access financial resources to invest in its network," said Kenya Power's managing director Mr Ben Chumo.
FINANCE IMPLEMENTATION
The funds will also finance implementation of the company's distribution master plan which is designed to increase the firm's revenue by ensuring minimal outages.
"The signing of this financing agreement shows that significant resources are made available to the state parastatal and the private sector to support climate friendly projects," said French Ambassador to Kenya Remi Marechaux.
Source : allafrica.com
