The wind project, which will be the largest single private investment in Kenya’s history, has the added backing of the African Development Bank, Kenya Power and Vision 2030. The signing of the Letter of Support for the project will now allow it to enter the final phase of financing.
“The LTWP project has been under private development since 2005, and that is in itself a remarkable testimony to the stability and soundness of the Kenyan electricity sector as well as the environment for Independent Power Producer (IPP),” said Carlo Van Wageningen, Chairman of the LTWP. “We are delighted that this project will move forward with the continued support of the Government of Kenya, Kenya Power, the African Development Bank, and the numerous other partners.”
Comprising 365 wind turbines, the associated overhead electric grid collection system and a high voltage substation, the project aims to provide 300MW of reliable, low cost wind power to the Kenyan national grid. This is the equivalent of approximately 20 percent of the current installed electricity generating capacity.
The project will also have a profoundly positive impact on the country itself. “In addition to providing reliable cost effective power the project will bring numerous macroeconomic, community and social benefits for the region, which is one of the poorest regions in Kenya,” added Van Wageningen.