Thika Power Limited (MIGA-763c7894c1)

  • Kenya
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
Voting Date
Dec 1, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Azura Power Holdings Limited and/or any of its subsidiaries
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Feb 14, 2019

Disclosed by Bank Oct 12, 2018

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.

Actis Energy and Amaya Capital, through Azura Power Holding Limited ("Azura Power" or "the Guarantee Holder") plan to acquire three existing power assets, specifically: Tobene and Kounoune Power Plants in Senegal; and Thika Power Plant in Kenya. All three assets are currently owned by Melec Powergen Inc ("MPG"), which was established in 2005 as a power generation platform in sub-Sahara Africa. The "Project" or "Power Plant" considered in this ESRS comprises Azura Power's acquisition of Thika Power Plant. The Project is an operating heavy fuel oil (HFO) plant with a total capacity of 87MW, located along the Nairobi-Thika highway, 5km from Thika town and approximately 38 km north-east of Nairobi. The Project is currently in the fifth year of full commercial operation and was the first Independent Power Producer (IPP) to be implemented under an initiative to help Kenya move away from its reliance on hydropower.

Construction of the Project commenced in 2011. Interim commercial operations started in August 2013 and full commercial operations was reached in March 2014. The Power Plant is comprised of: a tank farm for various fuel and waste oil storage; an engine room containing five engines (of 16.7 MW capacity each) and one 6.8 MW steam turbine; and various auxiliary and supporting components. MAN Diesel & Turbo provides maintenance and advisory services, as well as spare parts for the Project. Operations and support is provided by local staff contracted by MPG.

The Project has a 20-year power purchase agreement (PPA) signed in 2012 with Kenya Power and Lighting Company (Kenya Power), the national electric utility company. A Kenya Power substation is located adjacent to the plant, to the south.

The Project leases 4 hectares (ha) from Kenya Power and is surrounded by mainly farmland. The nearest community is that of Witeithie Estate to the southeast and is on the other side of the Nairobi- Thika highway. The nearest residences are located about 100 meters (m) from the site boundary to the southeast.

The Project was developed and financed by MPG with 25% equity and 75% long term loans arranged through the International Finance Corporation (IFC). The loan was approved by the IFC Board in 2011. The Project is also one component of a larger International Bank for Reconstruction and Development (IBRD) lending program that supported the creation of three IPP thermal power projects in Kenya, namely Triumph, Gulf and Thika Power Plants. Other Development Finance Institutions (DFIs) involved in the Project include the African Development Bank (AfDB) and Barclays Africa Group ("ABSA") Capital of South Africa. The Project also benefits from an International Development Association (IDA) liquidity guarantee and MIGA termination coverage on the ABSA debt, which combined with IFC long-term financing, optimized the use of the World Bank Group (WBG) instruments. Azura Power is an experienced developer, financier, acquirer and operator of IPPs that focuses on base-load power plants across Africa, and as well as renewable power projects in Nigeria.


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

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.

No contact information provided at the time of disclosure


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 You can learn more about the CAO and how to file a complaint at

How it works

How it works