The agency joins various development finance institutions and private lenders in providing financing for what it claims will be the single largest wind power project in Africa.
The wind farm site, which covers 40,000 acres of area, is situated in Loyangalani district, Marsabit West County.
The project will feature 365 wind turbines, associated overhead electric grid collection system and a high voltage substation.
Upon completion, the project is expected to serve over 2.5 million homes in Kenya and increase the country’s installed energy capacity by 20%.
The US Government’s development finance institution, OPIC, is playing an important role in President Barack Obama’s Power Africa Initiative.
The initiative intends to catalyze private investors to generate 10GW of new energy for over 600 million people in Sub-Saharan Africa.
The agency has agreed to provide $1.5bn as part of the initiative to develop energy projects across Sub-Saharan Africa in the next five years.
OPIC president and CEO Elizabeth Littlefield said the agency’s African power generation portfolio is increasing rapidly.
"This project demonstrates the collaborative and innovative approach OPIC takes in supporting the Power Africa goal of achieving widespread energy access across Sub-Saharan Africa," Littlefield added.
"By joining this esteemed group of lenders for the monumental Lake Turkana wind project, OPIC solidifies our commitment to the transformative goals of Power Africa, helping to catalyze the private capital that will be the key to bringing electricity to millions of people in Africa."
Image: The Lake Turkana project will feature 365 wind turbines. Photo: Courtesy of dan/FreeDigitalPhotos.net.
