Kenya: Lenders appointed for Kaptis hydropower project

Mauritius-based Tembo Power announced on 16 April the appointment of the Emerging Africa Infrastructure Fund and Finnfund as senior debt lenders for the 14.7MW Kaptis run-of-river hydropower project in western Kenya. Ninety One, formerly Investec Asset Management, will act as mandated lead arranger for the financing. The project will require $30m in debt financing to bring it through the final design, planning and construction phases, with a targeted commercial start date in Q3 2022, according to Tembo Power.