waltham
JF-Expert Member
- Jan 23, 2014
- 2,522
- 1,045
[h=5]ay, March 24, 2014[/h] [h=1]Sh70 billion to power setting up of wind energy farm[/h]
0 Comments
Print
PHOTO | FILE A wind power plant. Forty-three representatives of Belgian companies are visiting Kenya and Tanzania is search of investment opportunities in the infrastructure and energy sector. NATION MEDIA GROUP
[h=3]In Summary[/h]
advertisement
By Nation Reporter
More by this Author Setting up of the ambitious Lake Turkana Wind Power project achieved a milestone on Monday following the signing of a Sh70 billion loan deal with a consortium of financiers.
The group is led by the Africa Development Bank (AfDB), which also provided partial risk guarantee to the government to guard the initiative against delays in construction of a transmission line.
As the lead arrangers, we are proud to have played the key role of convening all the partners together to reach this historic financial close, said AfDBs regional director for the Eastern Africa Resource Centre Gabriel Negatu.
The project is expected to add 300MW to the national electricity grid.
This marks the end to an eight-year financial search to a project that will plug the periodic power deficits experienced in the country, and save the government money used to purchase expensive electricity.
Construction of the farm is expected to begin this year with production of power projected for 2016, according to LWTPs chairman Carlo Van Wageningen.
We are delighted that this project will move forward with the continued support of the Government of Kenya, Kenya Power, Ketraco, the African Development Bank, and all other partners who have since come on board, he said.
Billed as the largest private investment in the country, the wind farm has attracted funding from international institutions including European Investment Bank (EIB), the Standard Bank of South Africa, Nedbank, FMO of the Netherlands, Proparco, East African Development Bank (EADB), PTA Bank, Danish financier EKF, Triodos and DEG from Germany.
0 Comments
[h=3]In Summary[/h]
- The group is led by the Africa Development Bank (AfDB), which also provided partial risk guarantee to the government to guard the initiative against delays in construction of a transmission line.
advertisement
More by this Author Setting up of the ambitious Lake Turkana Wind Power project achieved a milestone on Monday following the signing of a Sh70 billion loan deal with a consortium of financiers.
The group is led by the Africa Development Bank (AfDB), which also provided partial risk guarantee to the government to guard the initiative against delays in construction of a transmission line.
As the lead arrangers, we are proud to have played the key role of convening all the partners together to reach this historic financial close, said AfDBs regional director for the Eastern Africa Resource Centre Gabriel Negatu.
The project is expected to add 300MW to the national electricity grid.
This marks the end to an eight-year financial search to a project that will plug the periodic power deficits experienced in the country, and save the government money used to purchase expensive electricity.
Construction of the farm is expected to begin this year with production of power projected for 2016, according to LWTPs chairman Carlo Van Wageningen.
We are delighted that this project will move forward with the continued support of the Government of Kenya, Kenya Power, Ketraco, the African Development Bank, and all other partners who have since come on board, he said.
Billed as the largest private investment in the country, the wind farm has attracted funding from international institutions including European Investment Bank (EIB), the Standard Bank of South Africa, Nedbank, FMO of the Netherlands, Proparco, East African Development Bank (EADB), PTA Bank, Danish financier EKF, Triodos and DEG from Germany.
