16 June 2014

Kenya's Turkana Wind Project Gets U.S. Boost

Nairobi — KENYA'S Lake Turkana Wind Power Project has received support worth $250 million from the United States.

The US, through its Overseas Private Investment Corporation (OPIC), has joined several development finance institutions and private lenders in providing financing for the 310-megawatt project, which will be the single largest wind power project in Africa and is projected to serve more than 2,5 million Kenyan homes, boosting the country's installed energy capacity by 20 percent.

“This is a historic project and underscores the US government's support for powering Africa,” said Elizabeth Littlefield, OPIC's President and Chief Executive Officer.

“By joining this esteemed group of lenders for the monumental Lake Turkana wind project, OPIC solidifies our commitment to the transformative goals of Power Africa, helping to catalyze the private capital that will be the key to bringing electricity to millions of people in Africa.”

The power produced by the Lake Turkana project will be a significant contribution to both the Power Africa Initiative and to Kenya, where less than 25 percent of the population has access to power.

The power scheme is projected to create over 2,000 jobs during the construction phase and sustain nearly 200 full-time jobs when operational.

“OPIC's power generation portfolio in Africa is quite diverse and growing rapidly.

"This project demonstrates the collaborative and innovative approach OPIC takes in supporting the Power Africa goal of achieving widespread energy access across Sub-Saharan Africa.

"The creative partnerships in the Lake Turkana project are touchstones of how Power Africa will achieve its goals, and the millions of people in Kenya that will gain new energy access are proof of our progress in this initiative,” added Littlefield.

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