Last Updated 14 years ago by Kenya Engineer
The country’s energy grid is expected to get a 60.8 mega watt power increase following a 12.9 billion wind power project to be set-up in Kinangop. The project, Kinangop Wind Park Ltd by Aeolus is set for ground breaking in the next two months.
US conglomerate General Electric will install 31.8 megawatt turbines on the site. General Electric is already implementing a similar project in Kajiado through its energy subsidiary GE Energy. The subsidiary owns Kipeto Energy Limited which will install the 100 megawatt of wind power in Kajiado County.
According to a report by Genghis Capital, the estimated wind energy potential is between 4,000 megawatt and 10,000 megawatt but only 5.1 megawatt of this has been harvested and fully exploited so far.
Transaction advisers CFC Stanbic Bank said that they are finalising on arrangements where Sh8.6 billion would be in the form of a loan extended by Standard Bank. The remaining Sh4.3 billion would come from two equity investors. The process is expected to be complete in 30 days.
Listed utility KenGen already has a footing in the niche with a planned 25.5 megawatts plant in Ngong. The project has already received a Sh1.32 billion interest-free loan from Belgium and a Sh2.38 billion credit line from the Spanish government.
The latest in this race of tapping in the country’s wind power is the Kenya Forestry Service who have invited investors to develop a 100 megawatt wind station on a 560 hectares piece of land in Ngong.
Investing in power is needed in this country to save the consumer from high energy prices. Kenya Power earlier announced a move to raise the fixed charge to Sh200 from Sh120. The variable cost for a kilowatt per hour (Kwh) will also go up.
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