KENYA: American BlackRock invests in 310 MW Lake Turkana wind farm
The Danish Climate Investment Fund (DCIF) is selling its stake in the Lake Turkana wind farm in Kenya. They have been taken over by the American asset manager BlackRock via an investment fund set up in partnership with several European countries, notably France and Germany.
As commercial operation of the Lake Turkana wind farm continues, Denmark’s Investment Fund for Developing Countries (IFU) announces the sale of the Danish Climate Investment Fund’s (DCIF) shares in the clean energy facility. DCIF previously held a 6.25% stake in Lake Turkana Wind Power, the ad hoc company set up to build and operate the power plant in Loiyangalani, a district of Marsabit County.
DCIF’s shares were acquired by the American asset management giant BlackRock. The transaction was carried out through the Climate Finance Partnership (CFP), a public-private financing vehicle launched in partnership with the French (AFD), German (KfW) and Japanese (JBIC) governments, as well as several US organizations.
The largest wind farm
“The Lake Turkana Wind Farm is a flagship project, and we are proud to have played an active role in the construction and operation of this pioneering project, which provides affordable and reliable green energy to Kenya,” enthuses Reik Haahr Müller, Senior Vice President, Green Energy and Infrastructure at IFU. The wind farm is equipped with 365 wind turbines supplied and installed by Danish giant Vestas.*
The 310 MW facility supplies 14% of Kenya’s electricity through the state-owned Kenya Power grid. This makes it the largest operational wind farm on the African continent. According to IFU, the construction of the wind farm involved building 200 km of road and a 400 km transmission line linking the plant to the national grid.
IFU joins the Finnish Industrial Cooperation Fund (Finnfund), which sold its shares to CFP a year ago. The Norwegian Investment Fund for Developing Countries (NORFUND) and Danish wind turbine manufacturer Vestas have also sold their shares. In addition to CFP, the park is now owned by Anergi Turkana Investments, Milele Energy and Sandpiper.
Cover photo: By AFRIK21
