OrPower Geothermal (IFC-49972)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Kenya
Geographic location where the impacts of the investment may be experienced.
Specific Location
Menengai
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Orpower Twenty Two Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 64.40 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 64.40 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 92.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 10, 2025

Disclosed by Bank Oct 31, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IFC, the proposed investment entails an IFC own account loan of up to $30 million and mobilization of up to $34.4 million through a Parallel Loan and the Managed Co-lending Portfolio Program (MCPP), to finance the construction and operation of the 35MW Orpower Twenty Two Limited (Geothermal) Project located in Menengai, Kenya.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

As stated by the IFC, the Project cost is expected to be approximately $92 million. The proposed financing package includes: (i) a Senior Loan of up to $30 million from IFC’s own account, (ii) a USD interest rate swap intermediated by IFC, (iii) a Parallel Loan of up to $16.4 million and (iv) a Senior Loan of up to $18 million from IFC acting in its capacity as implementing entity for the Managed Co-lending Portfolio Program(MCPP). The balance is covered by equity from Kaishan.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, the Project Company is Orpower Twenty Two Limited, a Special Purpose Vehicle (“SPV”) incorporated in Kenya. Orpower Twenty Two Limited is owned by Kaishan Renewable Energy Development Company which is in turn owned by the Kaishan Group Company Limited (Kaishan). Kaishan is a leading manufacturer of compressors, waste heat power generation equipment and geothermal power generation equipment, listed on the Shenzhen Stock Exchange. Kaishan has experience of having constructed and operating a number of geothermal projects including the Sorik Marapi 200MW project in Indonesia and the 35MW Sosian Menengai Geothermal Project in Kenya.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Kaishan Group Company Limited Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - Orpower Twenty Two Geothermal:

Ernest Mabwa - General Manager
Phone: +254 722 750 950
Email: ernest.mabwa@ksorka.com 
Address: 107 Pepo Lane, Karen Nairobi, P.O Box 22755 – 00100 Nairobi, Kenya 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works