Vestas has sold its 12.5% stake in Africa’s largest wind farm-The Lake Turkana Wind power to Climate Finance Partnership (CFP), the company announced Monday.
The sale, said Vestas in a press statement, aligns with its strategy of develop wind projects without remaining the long-term owner.
Lake Turkana wind park currently supply approximately 14% of the overall electricity demand in Kenya.
The wind farm was connected to the Kenyan national grid in 2018. The 365-turbine complex is operating under a 20-year power purchase agreement (PPA) with power distribution company Kenya Power and Lighting Company Plc, the national electricity distributor.
With 310 MW capacity Lake Turkana Wind Power project (LTWP) is Kenya’s largest single private sector investment and the largest wind farm in Africa.
Vestas also clarified that it will continue to service the turbines adding that the stake sale will have a negligible impact on its earnings and outlook.
Who Owns Lake Turaka Wind Power
Six shareholders own LTWP, namely: Anergi Turkana Investments Limited, Milele Energy Ltd, Vestas Eastern Africa Limited, Finnfund – the Finnish Fund for Industrial Cooperation, Danish Climate Investment Fund I K/S; and Sandpiper Ltd.
Other wind farms in Kenya
Apart from the Lake Turkana Wind Power Station(310MW), other wind farms in Kenya includes: the Kipeto Wind Power Station(102MW), the Ngong Hills Wind Farm and the Mombasa Cement Wind Power Station(36MW).
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