Supporting a Kenyan wind farm for cheaper and cleaner power generation

Lake Turkana Wind Power Limited (LTWP ) is a project company owned by KP&P Africa B.V. and Aldwych International, the co-developers of the project, Vestas, the world leader in wind energy, three development finance institutions (Norfund, Finnfund and IFU), as well as other private partners.

Proparco’s loan will contribute to financing the construction and operation of the Lake Turkana wind farm. This wind farm is located in northern Kenya in the Rift Valley and will have a capacity of 310 MW. The project comprises 365 wind turbines, each with a capacity of 850 kilowatts, and plans road connections and the connection to the power grid. It should supply about 20% of the country’s electricity as soon as it is commissioned. Proparco has been actively involved in the structuring of the financing.

This project should produce electricity 60% cheaper than the existing thermal power plants in the country. It should create 2,500 jobs for the construction and 200 permanent jobs for the operation, and generate additional tax revenues for the Government of Kenya (an average of EUR 25m a year during the life span of the project). In addition, the project should reduce greenhouse gas emissions by 380,000 tons of CO2 a year.