EIB and Lake Turkana Wind Power
- Apr 3, 2019
After nearly a decade of planning and construction work, the Lake Turkana wind farm started feeding electricity into Kenya’s grid in September last year. The EUR 620m project has been the single largest private investment in Kenya ever, reinforcing the country’s status as a safe and reliable investment destination.
The EIB managed EU-Africa Infrastructure Trust Fund (EU-AITF) provided a EUR 25m equity contribution to the project which was crucial in closing a financing gap and getting the project over the line. The EIB also provided a loan of EUR 200m.
The project involved the construction and operation of a 310 MW wind power plant, 365 turbines, a 33 kV electricity grid system, and a 33/200 kV substation, as well as civil works, such as the construction of concrete foundation pads, permanent housing for the workers and related utility services. The project also included rehabilitation of approximately 200km of existing road to the wind farm site. The project company LTWP has committed to invest a portion of the operating revenues of the plant to the Winds of Change Foundation to improve the livelihoods of the communities in the project area.