M a r k e t N e w s

US$145m wind power farm project in Nyandarua-Kenya receives green light

Posted on : Wednesday, 5th November 2014

 The US$145m wind power project in Nyandarua County has received a green light from the political class and area residents to have it go ahead. The project is expected to add 61MW of electricity to the national grid.

 
Funded by various foreign investors, the project is being undertaken by Kinangop Wind Park Ltd which is a Kenyan energy company. It had initially stalled as investors, politicians and land owners had disagreed on its continuation. In a meeting held by stakeholders, it was concluded that investor’s leasehold the affected land be reduced from 60 years to 25 years.
 
Kinangop Wind Park is the first independent large-scale wind power farm in East Africa and a landmark transaction for both the African power sector and the wind power project finance market. Kinangop Wind Park Ltd has appointed Aurecon South Africa Pty Ltd as owner’s engineer for the project, which is majority owned by African Infrastructure Investment Managers (AIIM). General Electric will provide 38 wind turbines for the project.
 
Locals have demanded for 100% of all unskilled labor and 70% of skilled workforce in the new deal that is yet to be signed. Apart from the job opportunities to come by with the new wind power project, the economy of this region will also be elevated, and more power will be added to the national grid.
 
Wind power/energy is a new alternative source of energy being harnessed in the country. Various projects are in the pipeline where more energy will be added into the national supply. This is due to the unreliable nature of hydroelectric power, especially during spells of draught. The effect of this is high cost of electricity, which in the recent past, has made some of major companies that had set base in Nairobi to shut down.
 
Bank will also be investing in a new wind power project in Embu County in Kenya, through the International Finance Corporation (IFC). The project will cost US$30m.
 

Source : construction review online
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