The European Investment Bank has agreed to provide €200m to support the Lake Turkana wind power project. As the largest single wind farm in sub-Saharan Africa the 300 MW Lake Turkana project is expected to generate around 20% of Kenya’s power; it will include 365 wind turbines, each capable of generating 850 kW. The €620m scheme received a €115m loan from the AfDB in April 2013 and the European Union, through the EU-Africa Infrastructure Trust Fund, will take a €25m preferred equity share in the project to close a financing gap not covered by current or new investors. The Lake Turkana Wind Power consortium comprises KP&P Africa and Aldwych as co-developers, Industrial Fund for Developing Countries (IFU), Wind Power (Vestas), Finnish Fund for Industrial Cooperation (Finnfund) and Norwegian Investment Fund for Developing Countries (Norfund). The power produced will be bought at a fixed price by Kenya Power (KPLC) over a 20-year period in accordance with the signed Power Purchase Agreement (PPA). Construction is expected to start in 2014 and the project should be completed by 2017.
Searching for proven generation costs?
Then CAPEX & LCOE is the database you need. The module provides exclusive insights on both Capital Expenditure and Levelised Cost of Electricity.
Make informed decisions in terms of which technologies to invest in and where. In just a few clicks, access unique, premium data on both thermal and renewable power generation costs by technology and by country. Put our detailed, reliable information to use and benchmark your project.