Aeolus Kenya, an independent power producer (IPP) signed a ground-breaking deal with Standard Bank Group’s Kenyan subsidiary Stanbic Bank to build a $150-million wind power plant in Kenya.
As part of the US-backed Power Africa Initiative, Aeolus will develop a 60.8 MW wind park at Kinangop, marking the first in its pipeline of projects. The Kinangop wind park was first announced in 2011 with the company saying that it had been a challenging process. The project is expected to come online in mid-2015 providing electricity for 150,000 Kenyan households, according to Standard Bank’s East Africa Head of Debt Solutions and Infrastructure Finance Kwame Parker.
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