Emerging Market Investor Actis has acquired 88 percent of Kipeto energy making it the largest shareholder of the 100MW wind power project. Actis acquired equity interest of International Finance Corporation (IFC) and African Infrastructure Investment Managers (AIIM).
The project is now funded by equity from Actis (88 percent) and Kenyan company Craftskills Wind Energy International (12 percent) alongside senior debt from the Overseas Private Investment Corporation (“OPIC”), the US Government’s development finance institution. Once operational, Kipeto, located in Kajiado county, will be the country’s second largest wind farm and will supply 100MW of clean energy to the national grid.
The Kipeto project was originally conceived by Craftskills Wind Energy International, with support from General Electric (“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 Kenya Power and Lighting in 2016.
Source: Capital FM