Page 50 - September - October 2015
P. 50

Here is a snapshot of the largest
      wind farm project in Africa Lake

        Turkana Wind Power Project

      The Lake Turkana Wind            site, a distance of approximately  farm. Vestas will provide the
                Power Project (LTWP)   204km, as well as an access road
                aims to provide 310MW  network in and around the site     maintenance of the plant under
                of reliable, low cost  for construction, operations and
                                                                          a 15 year service and availability

                                                                          contract with LTWP.  The

      wind power to the Kenya maintenance.                                power produced will be bought

      national grid, equivalent to                                        at a fixed price by Kenya Power

      approximately 20% of the The     Kenya  Electricity (KPLC) over a 20-year period

      current installed electricity Transmission Company Ltd in accordance with the signed

      generating capacity.             (Ketraco), with concessional Power Purchase Agreement

                                       funding from the Spanish (PPA).

      The Project is of significant Government and from the

      strategic benefit to Kenya, and Government of Kenya, is AfDB and related financing:
      at Ksh70 billion (€625 million) constructing a double circuit

      will be the largest single private 400kv, 428km transmission line The total project cost is estimated

      investment in Kenya’s history.   to deliver the LTWP electricity at USD 680 million and includes

                                       along with power from other the cost of the envisaged 400

      The wind farm site, covering future plants to the national km transmission line from Lake

      40,000 acres (162km2), grid.                                        Turkana to the Susua sub-station

      is located in Loyangalani                                           near Nairobi, as well as the cost

      District, Marsabit West County The Project proponent is the of upgrading 200 km of roads

      approximately 50km north of LTWP consortium comprising and various bridges.

      South Horr Township.             KP&P Africa B.V. and Aldwych

                                       International as co-developers, The project will be financed

      The Project will comprise Industrial Fund for Developing through equity debt (25%),

      365 wind turbines (each with Countries (IFU), Vestas East mezzanine debt (5%) and senior

      a capacity of 850 kW), the Africa Limited (Vestas), Finnish debt (70%). As the mandated

      associated overhead electric grid Fund for Industrial Cooperation lead arranger and senior co-

      collection system and a high Ltd (Finnfund) and KLP Norfund lender, AfDB will provide a

      voltage substation.              Investment AS (KLP Norfund). long-term senior loan of USD

                                                                          150 million.

      The Project also includes LTWP is solely responsible for Country – Kenya

  48  upgrading of the existing road the financing, construction
      from Laisamis to the wind farm and operation of the wind

      Commerce & Industry September / October Issue 2015
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