Geothermal energy: EIB’s Werner Hoyer plans strong comeback in East Africa
After pulling out of a major Kenyan project in 2019, the institution is looking at new funding in the tens of millions of dollars.
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▪ Geothermal energy: EIB’s Werner Hoyer plans strong comeback in East Africa
▪ After pulling out of a major Kenyan project in 2019, the institution is looking at new funding in the tens of millions of dollars.
▪ https://www.africabusinessplus.com/en/807833/geothermal-energy-eibs-werner-hoyer-plans-strong-comeback-in-east-africa/
While awaiting the final approval of the board and the German Werner Hoyer, the head of the European Investment Bank (EIB), the institution’s teams are structuring a major financing project for geothermal energy in Africa. In Luxembourg and Nairobi—where the EIB’s regional representation is based—the bank is planning to disburse €80 million to boost this sector in the Rift Valley, one of the most attractive areas in the world for this powerful technology that utilises the earth’s heat for energy.
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