Plans to develop one of Africa’s largest wind projects have been given a major boost after European funders agreed to support almost a third of the costs.
The European Investment Bank will provide £167million of the £520million needed for the Lake Turkana wind power scheme in East Africa.
The wind farm, which will generate around a fifth of Kenya’s power, will see 365 wind turbines being erected, along with major investments in infrastructure.
The funding comes along with extra support through international investors and the European Union, bringing the 300MW wind project closer to fruition.
“Availability of affordable energy is essential for Africa and electricity from the Lake Turkana Wind Power project will support economic growth across Kenya by helping to ensure power supply during periods of peak demand,” said the bank’s vice president, Pim van Ballekom.
“Europe’s firm commitment to supporting long-term investment in Kenya is reflected in nearly two-thirds of financial support being provided by European public and private investors and the crucial role of the support of the EU-Africa Infrastructure Trust Fund in closing the deal.
“Today is a milestone for the history of energy in Kenya and we look forward to the project fulfilling high expectations once complete.”
The project will enable the country to reduce its reliance on hydro power, which has left Kenya facing energy shortages during dry seasons, with a location in a valet between two mountain ranges to ensure more efficient energy generation.
The first tranche of the project, bringing up to 90MW online, is expected to be completed by the end of 2015, with the wind farm fully operational by 2016.
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