GE Renewable Energy and GE Energy Financial Services (GE EFS), subsidiaries of GE, a leading US-based multinational energy company, have partnered to provide technology and advisory support for a flagship onshore wind project in Sub-Sahara Africa.
The development, known as Kipeto Energy’s 100-megawatt (MW) wind power project is located south of Nairobi, in Kajiado, Kenya.
GE Renewable Energy will provide 60 of its highly efficient turbines to the Kipeto project, providing power to the equivalent of approximately 40,000 homes in the region.
The 100MW Kipeto wind power project will provide clean energy to the national grid as a significant contribution to Kenya’s Vision 2030 and Big Four Agenda, a development initiative launched by the country’s President, Uhuru Kenyatta. The project is expected to reach commercial operation in 2020.
“GE is incredibly proud to be a part of this exciting endeavor. The Kipeto project is an important step forward in providing affordable, reliable clean energy to the region, and meeting Kenya’s renewable energy goals. We look forward to working with our partners on the journey for years to come,” said GE’s Onshore Wind Regional Director for Europe and Sub-Saharan Africa, Peter Wells.
The Kipeto wind power project, which reached financial close this week, is funded by equity from financial services group, Actis and a Kenyan company, Craftskills Wind Energy International, alongside senior debt from the Overseas Private Investment Corporation (OPIC), the United States government’s Development Finance Institution (DFI).
“Kipeto represents our ability to identify and connect capital from leading government agencies to emerging markets, and enable construction of GE’s wind projects in new markets. The project lays foundation for cleaner and more reliable energy for the local communities in the future,” commented Managing Director for GE EFS’ Global Capital Advisory, Subha Nagarajan.
GE Renewable Energy will also provide operations and maintenance services for the wind turbines. The Kipeto project was originally conceived by Craftskills Wind Energy International, with support from GE. AIIM and IFC InfraVentures co-developed the project with Craftskills from 2014 until early 2018, executing a 20-year Power Purchase Agreement (PPA) with utility firm, Kenya Power in 2016.