Kenya’s state-owned power producer, KenGen, has announced plans to raise funds from the market later this year and it may opt to issue the country’s first green bond.
KenGen has a 1,631-megawatt annual capacity and it supplies 70 percent of Kenya’s electricity.
Private investors hold 30 percent of the company while the rest is held by the state.
Rebecca Miano, KenGen’s CEO, said the company would go to the market once it redeems its 10-year, 25 billion shillings ($250 million) bond in October.
The bond was heavily oversubscribed when it was issued in 2009.