Gulf Energy Limited and Centum Investment have finally been given the go ahead to construct a US$ 2bn coal power plant in Lamu, Kenya.
The news comes after the public private partnership petitions committee withdrew a bid to bring the 960 Megawatt project to a standstill.
The mega coal power project is part of projects lined up in the Kenya’s 5,000MW vision that is set to be achieved in the next three and a half years.
Out of the US$ 2bn needed for the coal power plant project, US$ 500m will be funded by Equity Bank and the balance will be financed through debt.
Centum is a leading East African Investment Company that is listed on the Nairobi Securities Exchange and Gulf Energy Limited provides energy solutions to an advancing energy sector in the Kenya.