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Actis, a UK-based private equity firm, announced that it has taken control of a 100 MW Kipeto wind power project in Kenya after successfully acquiring a majority of the project's
shareholders.
Kipeto Energy Limited announced that it has achieved financial gains following Actis' acquisition of respective stakes in the International Finance Corporation (IFC), a member of the World Bank Group and the African Infrastructure Investment Management Corporation, a member of
Old Mutual Alternative Investments.
The project is now funded
by senior debt from AB (88%) and Kenyan company Craftskills Wind Energy International (12%), as well as the US government's development finance institution Overseas Private Investment Corporation ("OPIC").
Once operational, Kipeto will provide 100MW of clean energy to the national grid, a significant contribution
to Kenya's Vision 2030 and four major agendas.
The Kipeto project was originally conceived by Craftskills Wind Energy International and supported
by General Electric.
AIM, together with Craftskills, developed the project with Craftskills from 2014 to early 2018 and signed a 20-year power purchase agreement
with Kenya Power and Light in 2016.
Actis' Director of Energy, said, "We thank IFC and AIIM for this well-managed transition period
.
We are delighted to be able to advance the Kipeto project and we are committed to maintaining the highest standards
of responsible investment in Africa for 70 years.
The project will not only make a significant contribution to the government's Vision 2030 agenda, but will also positively impact
the local community through job creation and the provision of more than 80 homes.
”
:/, please indicate the source for reprinting)
Actis, a UK-based private equity firm, announced that it has taken control of a 100 MW Kipeto wind power project in Kenya after successfully acquiring a majority of the project's
shareholders.
Kipeto Energy Limited announced that it has achieved financial gains following Actis' acquisition of respective stakes in the International Finance Corporation (IFC), a member of the World Bank Group and the African Infrastructure Investment Management Corporation, a member of
Old Mutual Alternative Investments.
The project is now funded
by senior debt from AB (88%) and Kenyan company Craftskills Wind Energy International (12%), as well as the US government's development finance institution Overseas Private Investment Corporation ("OPIC").
Once operational, Kipeto will provide 100MW of clean energy to the national grid, a significant contribution
to Kenya's Vision 2030 and four major agendas.
The Kipeto project was originally conceived by Craftskills Wind Energy International and supported
by General Electric.
AIM, together with Craftskills, developed the project with Craftskills from 2014 to early 2018 and signed a 20-year power purchase agreement
with Kenya Power and Light in 2016.
Actis' Director of Energy, said, "We thank IFC and AIIM for this well-managed transition period
.
We are delighted to be able to advance the Kipeto project and we are committed to maintaining the highest standards
of responsible investment in Africa for 70 years.
The project will not only make a significant contribution to the government's Vision 2030 agenda, but will also positively impact
the local community through job creation and the provision of more than 80 homes.
”
:/, please indicate the source for reprinting)
/
