Major partnership enhances power provision in Kenya

wind farmFrom MARIA MACHARIA in Nairobi, Kenya
NAIROBI, (CAJ News) – GENERAL Electric has announced a partnership with Kipeto Energy Limited to build a new wind farm in Kenya’s Kajiado County.

The local power deal caps off a successful run of more than $2,5 billion in booked orders on the Africa continent across transport, aviation, healthcare and energy sectors.

The Kipeto project, announced during United States President Barack Obama’s visit to Kenya, is expected to make a significant contribution to the installed energy capacity in Kenya, where up to 80 percent of the population currently lacks electricity access.

The $155 million contract will include 60 GE 1.7-103 wind turbines, as well as a 15-year service agreement.

GE will be the sole equipment supplier for the 100MW project, some 50 kilometres from the capital Nairobi.

The project will be financed by Overseas Private Investment Corporation (OPIC) as sole lender to the project. OPIC is the US
government’s development finance institute and is part of the Power Africa Initiative.

In August 2014, GE committed to invest $2 billion in facility development, skills training, and sustainability initiatives across Africa by 2018. The commitment was made during the US-Africa Leaders’ Summit in Washington DC.

Substantial investment and progress has been made against those commitments, and this week GE announced its involvement in several new projects in Kenya.

“GE has made significant progress against the investment commitments made last August,” said Jay Ireland, President and Chief Executive Officer of GE Africa.

“Skills training and capacity building are critical, not only for developing African economies, but also for growing GE’s footprint in the region. We consider this a major priority.”

Kipeto Energy Limited shareholders include Africa Infrastructure Investment Managers (AIIM), Craftskills Wind Energy International Limited, International Finance Corporation (IFC) and the Maasai
community of Kipeto.

CAJ News

Short URL: http://cajnewsafrica.com/?p=7024

Posted by on Jul 27 2015. Filed under Africa & World, Electricity, Energy, Featured, Investing, Investing, Regional, Solar & wind. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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