87 MW POWER GENERATING PLANT

Thika Power Limited developed this 87 MW diesel power plant in Thika, Kenya, under a 20-year BOO (Build-Own-Operate) agreement with Kenya Power, providing critical power infrastructure to support the country’s energy needs. The plant is powered by five MAN Diesel engines running on heavy fuel oil, ensuring reliable power generation.

Financing for the project was secured through a mix of sponsor equity and a senior A loan package provided by the International Finance Corporation (IFC, World Bank Group), ABSA Capital (Barclays affiliate), and the African Development Bank (AfDB). Engineering, Procurement, and Construction (EPC) services were led by MAN Diesel (Germany) in partnership with Matelec Group (Lebanon).

Ownership of the plant was transferred to AP Moller in 2022 and the project benefited from an 18-month transition suppoer agreement with MP Energy