GE Renewable Energy and GE EFS partners for wind project in Sub-Sahara Africa

GE Renewable Energy and GE Energy Financial Services(“GE EFS”) have partnered to provide technology and advisory support for its flagship onshore project in Sub-Sahara Africa.

Kipeto Energy Plc’s (“Kipeto”) 100-megawatt (MW) power project is located south of Nairobi, in Kajiado, Kenya.

GE Renewable Energy will provide 60 of its highly efficient GE 1.7-103 turbines to the Kipeto project, providing power to the equivalent of approximately 40,000 homes in the region.

The 100MW Kipeto power project will provide clean energy to the national grid as a significant contribution to Kenya’s Vision 2030 and Big Four Agenda. The project is expected to reach commercial operation in 2020.

Peter Wells, GE’s Onshore Regional Director for Europe and Sub-Saharan Africa, said: “GE is incredibly proud to be apart 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.”

The Kipeto power project, which reached financial close yesterday, is funded by equity from Actis and a Kenyan company, Craftskills Energy International, alongside senior debt from the Overseas Private Investment Corporation (OPIC), the United States government’s development finance institution (DFI).

Subha Nagarajan, Managing Director, GE EFS’ GlobalCapital Advisory, said: “Kipeto represents our ability to identify and connect capital from leading government agencies to emerging markets, and enable construction of GE’s projects in new markets. The project lays foundation for cleaner and more reliable energy for the local communities in the future.”

GE Renewable Energy will also provide operations and maintenance services for the turbines. The Kipeto project was originally conceived by Craftskills Energy International, with support from GE. AIIMand 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.

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