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Lake Turkana Financial Instrument

Region
Eastern Africa
Sector
Energy
Scope
FI
Grant Amount
EUR 25,000,000
Total project cost
EUR 620m
Status
Completed
PFG Lead Financier
EIB
PFG co-Financier
AfDB, PIDG, COFIDES, FINNFUND

The Lake Turkana Wind Power Project is the largest wind farm currently being developed on the Sub-Saharan continent and will be one of the largest renewable energy projects in Africa. The project involves the construction and operation of a 310 MW wind power plant. The wind farm includes 365 turbines, a 33 kV electricity grid system, and a 33/200 kV Substation. The project includes civil works, such as the construction of concrete foundation pads, permanent housing and related utility services, and a wind farm control building. The Project also includes approximately 200km rehabilitation of the existing road to the wind farm site. The project is located approximately 12 km east of Lake Turkana in northern Kenya, in a sparsely populated, rocky, desert area. In order to connect the wind farm to the grid, a 428 km long transmission line will be constructed by the Government of Kenya.

The EU-AITF SE4ALL financial instrument grant will provide a capital participation to the project to close a financing gap and will hence remove a substantial hurdle to financial close. As a result, the grant brings direct benefits to the Kenyan end consumer by supporting a project that will deliver over 20 years of sustainable electricity supply at a favourable rate. As of December 2017, the wind farm was completed on time and is capable to dispatch power to the grid since January 2017. However, the completion of the Transmission Line (outside of the project scope) is significantly delayed (target of Q3 2018 as per government announcement) which prevents the project to feed into the grid. The financing documents, including the EU-AITF investment agreement, were signed in March 2014.

12/2017