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South African IDC takes stake in Kenya wind project

Kenya's Lake Turkana Wind Power (LTWP) said on Wednesday it will offload a 70% stake in its wind energy project to South Africa's Industrial Development Corporation and London-based energy firm Aldwych International.
LTWP is building a 300 MW wind farm in Kenya, with the first 50 MW feeding into the national grid by the end of June 2011.

The final financial structure of Lake Turkana Wind Power will be 51% Aldwych, 19% for IDC South Africa and a 30% by KP&P, the original owners.

LTWP has an exclusivity deal with Denmark's Vestas Wind to supply 360 wind turbines for the plant, which will be situated in the remote northwest.

It also has a power purchase agreement with Kenya's electricity distributor at a feed-in tariff of 7,22 euro cents.

Additional information:
News date: 10/03/2010

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