Kenya’s Lake Turkana Wind Power Project (LTWPP) reached a critical milestone with the signing over over $87 million in financing agreements. LTWP has signed a 20-year PPA with the government of Kenya through its electricity entity, Kenya Power & Lighting Co. (KPLC). The project will be financed with a mixture of equity, mezzanine debt, and senior debt.
Lead developer and IPP Aldwych was present at the signing ceremony. Other investors and lenders for the deal include FMO, Vestas, Finnfund, IFU, and local sponsor KP&P. The syndicate of banks is led by the African Development Bank and comprises Standard Bank, Nedbank, EIB, DEG, and Proparco.
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