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Lake Turkana Wind Power

Climate love

UK firm to acquire 31pc stake in Lake Turkana Wind Power

A United Kingdom firm is set to acquire a 31.25 percent stake in Lake Turkana Wind Power (LTWP) Limited, which built the €630 million (Sh87.6 billion) wind farm through debt and equity.
LTWP says it will, in the next 15 days, make a formal application to the Energy and Petroleum Regulatory Authority (Epra) to be allowed to sell the stake to CFP UK Holdings Limited, a company incorporated in England and Wales.
“Subject to the relevant regulatory approvals being obtained and other various condition precedents being satisfied in relation to the proposed transaction, CFP intends to partner with the existing shareholders of the Company to ensure the success of the 310MW wind-powered electricity generation plant,” read the LTWP notice.

Other shareholders include Danish Climate Fund through Investment Fund for Developing Countries, Vestas Eastern Africa Limited, Finnish Fund for Industrial Cooperation and Sandpiper Limited.
LTWP has been paying the debt twice yearly — in March and September— with the last payment expected in 2024. This amounts to about €75 million (Sh10.4 billion) in repayment per year.
TWP, with a capacity of 310 megawatts — enough to power up to one million homes, entered into a power purchase agreement (PPA) with Kenya Power in 2009.
The company agreed to be selling the energy to the power distributor at 8.529 euro cents (Sh11.86) per kilowatt hour (kWh) for the first six years and then start charging at 7.684 euro cents (Sh10.69) per kWh.
The difference in tariff is to recover €81 million (Sh11.3 billion) balance as a penalty on government for delaying construction of the transmission line.

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  • We Don't Have Time

    69 w

    Dear Tabitha Kimani Thank you for getting your climate love to level 2! We have reached out to Lake Turkana Wind Power and requested a response. I will keep you updated on any progress! /Adam We Don't Have Time

    • Daniel Waweru

      69 w

      This is the clean energy we want. Superb.

      • Munene Mugambi

        69 w

        Hopefully this brings on board much-needed funding

        • Elizabeth Gathigia

          69 w

          This is great clean energy all the way

          • Rashid Kamau

            69 w

            Wind power consumes no fuel, and emits no local air pollution, unlike fossil fuel power sources.

            • Mc Kaka Official🇰🇪

              69 w

              Everyone deserve Clean energy and this is the way to go! It's amaizing

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