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KSh 70 billion Lake Turkana Wind Power Project expected to break ground in the early 2014
The Sh70 billion Lake Turkana Wind Power Project (LTWP) is expected to break ground in the early months of this year after various financiers pledged their support that will see Kenya diversify from its over-reliance on hydroelectric power.
Eight years after the first feasibility study was conducted in Loyangalani District, Marsabit County, the largest wind farm in the region is poised for take-off after risk guarantees were finalised in November. LTWP will see 365 wind turbines, each with a capacity to produce 850kW, erected on the 40,000 acre farm.
Project managers foresee production of the first 50 megawatts to start early next year and the wind farm fully operational at 300 megawatts by 2016 if logistic issues are handled according to plan.
The Sh70 billion Lake Turkana Wind Power Project (LTWP) is expected to break ground in the early months of this year after various financiers pledged their support that will see Kenya diversify from its over-reliance on hydroelectric power.
The initial steps include construction of the 200km road from Laisamis to Sirima, location of the farm, to facilitate timely transportation of wind turbines to the site.
Electricity is absolutely essential right now for meeting demand from Kenyan farmers, businesses and households. We are proud to step-in and make the necessary funding available to keep the construction of the Turkana wind project on course, said EUs ambassador to Kenya Lodewijk Briet after the deal.
This was a month after AfDB approved a partial guarantee on the project at a tune of Sh2.3 billion through its Partial Risk Guarantees (ADF PRG) instrument.
The risk mitigation facility covers private lenders and investors against the risk of a possible government failure to meet contractual obligations to a project.
This ADF PRG will promote foreign direct investment in Kenya and crowd in private financing for power generation.
Source: DailyNation.co.ke
Special to DOW JONES NEWSWIRES
NAIROBI--The Netherlands has provided funds totaling EUR10 million ($13.8 million) through the African Development Bank to upgrade a 200-kilometer road that will serve Africa's largest wind farm, the Lake Turkana Wind Power project, located in northern Kenya.
Upgrading the road will cost a total of EUR22.5 million, with the Lake Turkana Wind Power project providing the balance of EUR12.5 million, LTWP said in a statement Wednesday. The work on the road, between Laisamis and Sirima in Marsabit County, is expected to start in early 2014.
"The upgrading strengthening of the road is primarily to support this unique project and to allow for the wind turbines to reach site," said Lilianne Ploumen, the Netherlands' minister for foreign trade and development cooperation.
"However, the road will open the entire area for further development and improve accessibility to all the local communities," she said.
The LTWP project covers 40,000 acres in Loyangalani District, Marsabit West County, in north-eastern Kenya. It will comprise 365 wind turbines, each with a generating capacity of 850 kilowatts, and a 33 kilovolt electrical network.
The average electricity production of the project is estimated to be 1,440 gigawatt-hours per year, equivalent to the annual generation capacity of Namibia in 2010, and will be sold to the Kenyan national grid at a price of EUR0.0752 per kilowatt-hour, LTWP said.
Work on the wind farm is scheduled to start next year and will take 32 months to complete, LTWP Chairman Mr. Carlo Van Wageningen said.
Write to George Mwangi at realtimedesklondon@dowjones.com
Sh12.9bn wind power plant
By John Gachiri
Posted Monday, March 11 2013 at 19:33
In Summary
Aeolus Kenya is expected to break ground on the Sh12.9 billion Kinangop Wind Park Ltd power project in the next two months.
Aeolus Kenya, part of the European renewable energy group, is planning to put up a 60.8 megawatt wind farm in Kinangop, Nyandarua County, after the financing is finalised within the next 30 days.
Transaction advisers CFC Stanbic Bank have said that they are finalising arrangement where $100 million (Sh8.6 billion) will be in the form of a loan extended by Standard Bank, CFC Stanbics parent company. The $50 million (Sh4.3 billion) balance will come from two equity investors.
Aeolus Kenya should reach financial close on its $150 million (Sh12.9 billion), 60.8 megawatt wind farm on the Kinangop Plateau in the next 30 days, Kwame Parker, head of debt solutions and infrastructure finance for East Africa at Stanbic Kenya told intelligence service Debtwire.
US conglomerate General Electric will install 31.8 megawatt turbines on the site. General Electric is already implementing a similar project in Kajiado through its energy subsidiary GE Energy. The subsidiary owns Kipeto Energy Limited which will install the 100 megawatt of wind power in Kajiado County.
Late last year, GE Energy said it would raise $210 million (Sh18 billion) from debt, which amounts to 70 per cent of the Kajiado project cost, and invest the remaining Sh7.5 billion through equity.
WENGINE NAWAJUA MINDOMO YATETEMEKA.SUBIRI UTAWASIKIA.
The Sh70 billion Lake Turkana Wind Power Project (LTWP) is expected to break ground in the early months of this year after various financiers pledged their support that will see Kenya diversify from its over-reliance on hydroelectric power.
Eight years after the first feasibility study was conducted in Loyangalani District, Marsabit County, the largest wind farm in the region is poised for take-off after risk guarantees were finalised in November. LTWP will see 365 wind turbines, each with a capacity to produce 850kW, erected on the 40,000 acre farm.
Project managers foresee production of the first 50 megawatts to start early next year and the wind farm fully operational at 300 megawatts by 2016 if logistic issues are handled according to plan.
The Sh70 billion Lake Turkana Wind Power Project (LTWP) is expected to break ground in the early months of this year after various financiers pledged their support that will see Kenya diversify from its over-reliance on hydroelectric power.
The initial steps include construction of the 200km road from Laisamis to Sirima, location of the farm, to facilitate timely transportation of wind turbines to the site.
Electricity is absolutely essential right now for meeting demand from Kenyan farmers, businesses and households. We are proud to step-in and make the necessary funding available to keep the construction of the Turkana wind project on course, said EUs ambassador to Kenya Lodewijk Briet after the deal.
This was a month after AfDB approved a partial guarantee on the project at a tune of Sh2.3 billion through its Partial Risk Guarantees (ADF PRG) instrument.
The risk mitigation facility covers private lenders and investors against the risk of a possible government failure to meet contractual obligations to a project.
This ADF PRG will promote foreign direct investment in Kenya and crowd in private financing for power generation.
Source: DailyNation.co.ke
Special to DOW JONES NEWSWIRES
NAIROBI--The Netherlands has provided funds totaling EUR10 million ($13.8 million) through the African Development Bank to upgrade a 200-kilometer road that will serve Africa's largest wind farm, the Lake Turkana Wind Power project, located in northern Kenya.
Upgrading the road will cost a total of EUR22.5 million, with the Lake Turkana Wind Power project providing the balance of EUR12.5 million, LTWP said in a statement Wednesday. The work on the road, between Laisamis and Sirima in Marsabit County, is expected to start in early 2014.
"The upgrading strengthening of the road is primarily to support this unique project and to allow for the wind turbines to reach site," said Lilianne Ploumen, the Netherlands' minister for foreign trade and development cooperation.
"However, the road will open the entire area for further development and improve accessibility to all the local communities," she said.
The LTWP project covers 40,000 acres in Loyangalani District, Marsabit West County, in north-eastern Kenya. It will comprise 365 wind turbines, each with a generating capacity of 850 kilowatts, and a 33 kilovolt electrical network.
The average electricity production of the project is estimated to be 1,440 gigawatt-hours per year, equivalent to the annual generation capacity of Namibia in 2010, and will be sold to the Kenyan national grid at a price of EUR0.0752 per kilowatt-hour, LTWP said.
Work on the wind farm is scheduled to start next year and will take 32 months to complete, LTWP Chairman Mr. Carlo Van Wageningen said.
Write to George Mwangi at realtimedesklondon@dowjones.com
Sh12.9bn wind power plant
By John Gachiri
Posted Monday, March 11 2013 at 19:33
In Summary
- Aeolus Kenya is planning to put up a 60.8 megawatt wind farm in Kinangop, Nyandarua County.
- US conglomerate General Electric will install 31.8 megawatt turbines on the site.
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Aeolus Kenya is expected to break ground on the Sh12.9 billion Kinangop Wind Park Ltd power project in the next two months.
Aeolus Kenya, part of the European renewable energy group, is planning to put up a 60.8 megawatt wind farm in Kinangop, Nyandarua County, after the financing is finalised within the next 30 days.
Transaction advisers CFC Stanbic Bank have said that they are finalising arrangement where $100 million (Sh8.6 billion) will be in the form of a loan extended by Standard Bank, CFC Stanbics parent company. The $50 million (Sh4.3 billion) balance will come from two equity investors.
Aeolus Kenya should reach financial close on its $150 million (Sh12.9 billion), 60.8 megawatt wind farm on the Kinangop Plateau in the next 30 days, Kwame Parker, head of debt solutions and infrastructure finance for East Africa at Stanbic Kenya told intelligence service Debtwire.
US conglomerate General Electric will install 31.8 megawatt turbines on the site. General Electric is already implementing a similar project in Kajiado through its energy subsidiary GE Energy. The subsidiary owns Kipeto Energy Limited which will install the 100 megawatt of wind power in Kajiado County.
Late last year, GE Energy said it would raise $210 million (Sh18 billion) from debt, which amounts to 70 per cent of the Kajiado project cost, and invest the remaining Sh7.5 billion through equity.
WENGINE NAWAJUA MINDOMO YATETEMEKA.SUBIRI UTAWASIKIA.