World Bank to invest US$ 20m in Kenya wind power project
Installation of wind power turbines in Kenya: Kipeto power plant will be second-largest after Turkana wind power plant to be set up in Marsabit
The World Bank, through its private arm International Finance Corporation (IFC) will be investing US$ 20m in equity into a wind power project in Kajiado County.
The implementer of the project is Kipeto Energy Limited (KEL), initially founded by Kenya-based Craftskills Wind Energy International Limited. KEL is majority-owned by US-based General Electric (GE) with the World Bank Group’s investment arm IFC and a community trust as its other shareholders.
KEL is part of the nation’s vision 2030 where the government aims at adding 5000MW to the national grid. General Electric will provide the wind turbines needed for this project. The total cost of the project has been set at US$ 316m.
Kipeto wind power project will be the second-largest wind power plant in Kenya after the 300MW Lake Turkana Wind Power plant to be based in Marsabit – touted as one of the largest wind power plants in Africa.