ATIDI Supports Globeleq’s 35 MW Menengai Geothermal Project with RLSF Cover

African Trade & Investment Development Insurance (ATIDI) and Globeleq Africa Limited, jointly announced the former’s support for the 35 MW Globeleq Menengai Geothermal Project with liquidity cover via the Regional Liquidity Support Facility (RLSF). RLSF, a joint initiative of ATIDI, the KfW Development Bank and the Norwegian Agency for Development Cooperation (Norad), is a credit enhancement instrument available to renewable energy Independent Power Producers (IPPs) that sell the electricity generated by their projects to state-owned power utilities. RLSF is offered in ATIDI member countries that sign the RLSF Memorandum of Understanding.

The project, the first to be considered for RLSF cover in Kenya, is valued at USD117 million with financing provided by the African Development Bank (AfDB), the Eastern and Southern African Development Bank (TDB), the Finish Fund for Industrial Cooperation (Finnfund), and equity from the project owners, Globeleq.

"We are proud to collaborate with Globeleq, KPLC, GDC, and the Government of Kenya on this transformative project. Together, we are driving positive change and advancing Kenya's energy transition.”

 Manuel Moses, CEO, ATIDI