GE Renewable Energy, GE EFS partner for wind project in Kenya
GE Renewable Energy, GE EFS partner for wind project in Kenya
Jan 03, 2019: GE Renewable Energy and GE Energy Financial Services (GE EFS) have partnered to provide technology and facilitate debt financing for an onshore wind project in sub-Saharan Africa. Kipeto Energy Plc (Kipeto) is 100MW wind power project located in Kajiado, Kenya.
GE Renewable Energy will provide 60 turbines units and a 17 kilometre (220KV) transmission line to the Isinya substation in Kajiado County, providing power to the equivalent of approximately 40,000 homes in the region.
Peter Wells, GE’s onshore wind regional director for Europe and sub-Saharan Africa said, “The Kipeto project is an important step forward in providing affordable, reliable clean energy to the region, and meeting Kenya’s renewable energy goals. We look forward to working with our partners on the journey for years to come.”
The 100MW Kipeto wind power project will provide clean energy to the national grid as a significant contribution to Kenya’s Vision 2030 and Big Four Agenda. The project is expected to enter commercial operation in 2020.
The Kipeto wind power project is funded by equity from Actis and a Kenyan company, Craftskills Wind Energy International, alongside senior debt from the Overseas Private Investment Corporation (OPIC), the US government's development finance institution (DFI).
GE EFS provided advisory support which facilitated OPIC’s financing and will help to enable Kipeto to begin construction of the second largest wind farm in Kenya with GE wind turbines.
Subha Nagarajan, MD, GE EFS’ global capital advisory, commented, “Kipeto represents our ability to identify and connect capital from leading government agencies to emerging markets and enable construction of GE’s wind projects in new markets. The project lays a foundation for cleaner and more reliable energy for the local communities in the future.”
GE Renewable Energy will provide operations and maintenance services for the project. It is anticipated that more than 400 job opportunities will be created during the construction phase of the project and an additional 70 permanent jobs during the operational phase.
