Kenya: Tembo Power to develop first hydro project with Metier

Mauritius-based Tembo Power has signed a joint development agreement with South African private equity fund manager Metier for the 14.7MW Kaptis small hydropower project in western Kenya. The agreement, which will see Metier take a 40% equity stake alongside Tembo Power (40%) and South Africa’s WK Construction (20%), paves the way for the next stage of the development of the run-of-river project, Tembo said on 18 March. With equity fully secured, Tembo said development finance institutions were now being appointed for senior debt, with the aim of achieving financial close and starting construction later this year.