Kenya: Lake Turkana Wind Power signs financing agreements

Issue 274 - 28 Mar 2014 | 2 minute read

After eight years in the pipeline, the 300MW Lake Turkana wind power project finally signed financing agreements worth €498m ($687m) on 24 March. The much-publicised project, described as the largest private investment in Kenyan history, has the support of a wide range of financiers, led by a revitalised African Development Bank (AfDB), but the time taken to reach financial close highlights the difficulty, even in private sector friendly Kenya, of developing a renewables project on this scale. The wind farm is expected to begin operating in early 2016,with full operation by 2019, and to produce power at Ksh9/kWh (€0.0752/kWh) and generate as much as €150m/yr in foreign exchange costs by reducing the need for fuel imports.

Tagged with:

Pin Power, Strategy & risk

Pin Kenya

Want to read more?

Subscribe to African Energy

View subscription options

This article is available to registered users


Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map