| Project Detail |
On December 24, 2024, The Multilateral Investment Guarantee Agency (MIGA) a member of the World Bank Group, issued a guarantee to Globlelq Africa Limited of United Kingdom for their US$19.6 million equity and quasi-equity investments to Malindi Solar Group Limited of the Republic of Kenya (Kenya) against the risk of breach of contract for a period of 17 years. The Malindi project is a 40-megawatt alternating current (MWac) power plant. The project involves the design, financing, construction, operation, and maintenance of a 40MWac solar photovoltaic power generation plant, including associated and auxiliary works, equipment, infrastructure and interconnection facilities located at Lagobaya, Malindi, Kilifi County (the Project). The estimated 98-gigawatt hour of annual power generated by the solar power plant will be evacuated via the onsite transformers and step-up substation before onto the Weru substation. From there, it will be transmitted to the Malindi substation, located approximately 16 kilometers west of Malindi town, where it directly connected to the national 220kV transmission line running between Rabai and Lamu. |
