Climate Finance Partnership acquires stake in 310 MW Onshore wind farm in Kenya
Climate Finance Partnership, a fund managed by BlackRock Alternatives, has completed the acquisition of a 31.25% controlling stake in the 310 MW Lake Turkana Wind Power Project located in Kenya from Vestas, Finnfund and the Investment Fund for Developing Countries for an undisclosed sum.
Located in Kenya’s far north region, the project is equipped with 365 V52 Vestas turbines each with a capacity of 850 kW. The wind farm will generate enough energy to power approximately 330,000 local homes.
In 2018, the project was connected to the Kenyan national grid and the full commissioning was achieved in early 2022. The project has inked a 20-year power purchase agreement (PPA) with Kenya Power and Lighting Company.
Country news
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July 16, 2018
CDC and Globaleq invest US$66 million in solar project in Kenya
CDC, the UK’s development finance institution, and Globeleq have announced a US$66 million debt investment in Malindi Solar Group, which will finance the construction of a 52MWp solar photovoltaic power plant in Malindi , south-east Kenya.
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June 13, 2018
AfDB to finance 35 MW geothermal project in Kenya
Quantum Power East Africa GT Menengai Ltd has secured financing from the African Development Bank (AfDB) and Climate Investment Funds (CIF) Clean Technology Fund (CTF) for the 35 MW Menengai geothermal project in Kenya.
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February 16, 2018
Inspired Evolution invests US$36 million in solar PV projects in sub-Saharan Africa
Inspired Evolution has signed a deal to invest up to US$36 million in Alten RE Developments Africa B.V., the sub-Saharan Africa-focused subsidiary of Alten Energías Renovables. The investment by Inspired Evolution’s Evolution II Fund will expand Alten Africa’s existing solar photovoltaic development platform across sub-Saharan Africa.
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November 24, 2017
ACCIONA to build two transmission projects in Kenya
ACCIONA has signed two contracts with HOMT España as part of the project worth over €40 million (US$ 47,07 million) that the latter is executing for Kenya Electricity Transmission Company Limited (KETRACO).
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September 11, 2017
AfDB to back Kenya’s Lamu coal
The African Development Bank (AfDB) is mulling to fund the development of Kenya’s first coal-fired power plant. The bank is awaiting the environmental and social audits before they can release the funds.
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