Malindi solar project reaches financial close
Issue 394 - 14 Jun 2019
UK-based developer Globeleq announced on 3 June that the 40MWac (52MWp) Malindi solar photovoltaic project at Langobaya in Malindi district has reached financial close. India’s Sterling and Wilson is the engineering, procurement and construction (EPC) contractor for the plant, which is expected online in mid-2020.Globeleq acquired 90% of the project in 2017, with the remaining 10% held by the original developer Africa Energy Development Corporation, whose partner Investment and Development of East Africa Power Group (Idea Power) sold its stake at financial close.
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