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Kenya scores on wind energy front with help from AfDB

first_imgRead more news on:Renewable energy Low carbon, solar future could increase jobs in the future – SAPVIA The continent has copious, even limitless, supplies of sun, water, and wind, as well as significant amounts of natural gas and other valuable natural resources and raw materials. Accordingly, the Bank’s New Deal is investing $12 billion over the next five years and leveraging up to $55 billion to achieve universal access to energy by 2025. Lake Turkana Wind Farm The winds sweeping thearea start in the Indian Ocean and channel through the ‘Turkana corridor’ createdby the Ethiopian and Kenyan highlands. These winds blow consistently at 11miles per hour, making this an ideal area for situating wind turbines. “Turkana’s launch proves that we are determined to continue to work relentlessly to close Africa’s energy gap. Our efforts will be felt in hundreds of thousands of Kenyan households and beyond,” Shonibare added. Finance and Policy TAGSKenyawind energy Previous articleHow energy can work better for Africans, Billions at PlayNext articleEscalating knowledge sharing on global energy transition Nicolette Pombo-van ZylAs the Editor of ESI Africa, my passion is on sustainability and placing African countries on the international stage. I take a keen interest in the trends shaping the power & water utility market along with the projects and local innovations making headline news. Watch my short weekly video on our YouTube channel ESIAfricaTV and speak with me on what has your attention. Sign up for the ESI Africa newsletter The site is Kenya’s largest renewable energy project and its biggest single private sector investment. The plant is expected to reduce power shortages by 12.5% and cut the cost of electricity in Kenya by up to 10%. It is proof of Kenya’s commitment to pursue clean sources of energy and provides a major boost to the country’s international commitments to lower greenhouse gas emissions. Read more news on:African Development Bank Since 2016, the Bank has invested around $4.5bn of its own resources in the energy sector. Adesina added, “Projects like the Lake Turkana Wind Power allow us to leap forward towards our key objectives. The Bank is very proud to be associated with this crucial addition to African infrastructure and clean energy generation.” Investing in the wind energy market AFD and Eskom commit to a competitive electricity sector center_img Turkana project reduces power shortages BRICS AfricanDevelopment Bank President Akinwumi Adesina is in little doubt about thesignificance of the Bank’s funding. “African economic development is all aboutpolitical will. We have little time and much to do for the continentaltransformation needed to light up and power Africa by 2025.” RELATED ARTICLESMORE FROM AUTHOR Read more news on:Wind energy The wind farm will increase the country’s electricity supply by 13%. At its launch earlier this month, President Uhuru Kenyatta said, “We again raise the bar for the continent…Kenya is without a doubt on course to be a global leader in renewable energy.” The Lake Turkana Wind Power project is a 40,000-acre wind farm, which will generate around 310MW of power to the national grid, enough to light up over 300,000 households. The African DevelopmentBank served as lead arranger for €436 million in senior credit facilitiestowards the project cost of €623 million euros. The Bank also provided apartial risk guarantee from the African Development Fund of €20million for the part of the project devoted to the transmission lines. Generation “This is a milestone that we are proud to celebrate. Kids can’t learn much in the dark. School books have to be put down when the sun sets. Life-saving vaccines can’t be preserved. Nurses and midwives have to deliver babies using lanterns or torches,” said Wale Shonibare, the Bank’s acting Vice-President for power, energy, climate change, and green growth. Webinar discussion:Wind energy growth, a dynamic outlook Africa’s largest wind farm, a €620 million energy masterpiece boasting 365 turbines in northern Kenya, will help the East African nation stay on track to reach its target of 100% green energy by 2020. UNDP China, CCIEE launch report to facilitate low-carbon developmentlast_img read more