Kenya's massive wind energy plant

2014-03-24 13:34

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Cape Town - Kenya has reached a critical milestone in its energy endeavours as it implements a 300MW wind power project to its national grid.

The Lake Turkana Wind Power Project was created through fund raising and will be the biggest clean power energy project in Africa.

Tshepo Mahloele, CEO of Harith General Partners says that the signing over of $870m towards the projects means the project is on its way to actualisation.

The first of its kind in East Africa the project will be financed with a mixture of equity, mezzanine debt and senior debt.

The project will benefit mainly the people of Turkana, an area where economic development is slow and unemployment is extremely high.

The hope is that project will lead to an economic boom in the area.

This area is said to be one of the best sites for a wind farm in the world. The wind speeds are high, the wind comes from various directions, is not seasonal and is low in turbulence.

The main site will be located near the southeast border of Lake Turkana which is between two mountain rages where wind conditions are favourable.

The project according to Mahloele will help to diversify Kenya’s energy mix and reduce the countries reliance on oil and diesel generators.

The LTWP tax contribution to Kenya will be more or less $27m annually and $548m over the life of the investment.
Read more on:    kenya  |  energy  |  environment

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