UK-based developer Globeleq and CDC Group, which is wholly owned by the UK’s Department for International Development and owns 70% of Globeleq, announced on 11 July a $66m debt package for the 40MW Malindi solar project. Globeleq told African Energy that the focus was now on finalising outstanding conditions to reach financial close and begin construction in the coming months. CDC Group will provide a loan worth $50m, with Globeleq supplying the remaining $16m. Both loans are long term, with 16-year tenors.
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