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12 December 2014.

AFRICA’S LARGEST WIND FARM IS NOW IN PLACE

After more than seven years it is now a reality: Africa’s largest wind farm, Lake Turkana, will be established.

On Thursday 11 December, the project reached financial close at a total of DKK 5bn, when a number of banks approved the final loan agreements for Africa’s largest wind farm, Lake Turkana. This means that the implementation of the project can begin.

The Danish Climate Investment Fund, established with contribution from Danish development aid, will invest DKK 87m in share capital. The Danish Export Credit Agency (EKF) provides guarantees of about DKK 1bn.

Mogens Jensen, Minister for Trade and Development said: “It is a good day for green energy and employment in Kenya. The project will be established with financing from the Danish Climate Investment Fund, and it shows that through a close public-private partnership we can create results that benefit the global climate, Danish trade and industry and contributes to growth and employment in Kenya.”

“It is an important milestone, and I am very pleased that the Danish Climate Investment Fund can contribute to delivering sustainable energy to Kenya’s further development,” said Tommy Thomsen, CEO of IFU.

365 wind turbines from Vestas

The wind farm will consist of 365 wind turbines divided on more than 160 square kilometres in the northern part of Kenya, close to Lake Turkana. The wind conditions are ideal, because there is a strong and constant wind, which creates very high efficiency.

Vestas will deliver V52-850KW wind turbines with a total capacity which corresponds to 15 per cent of Kenya’s total power production.

The remote location means that a 400 km long power transmission line and 300 km of transport and service roads will have to be established. This work has begun and must be completed before the wind turbines from Vestas can be erected and deliver power to the Kenyan grid. It is expeted that the power production will start in 2017.

The largest investment of the Danish Climate Investment Fund

The Danish Climate Investment Fund was established in January 2014 in a new collaboration between the Ministry of Foreign Affairs, IFU, pension funds PensionDanmark, PKA, PBU and Dansk Vækstkapital, and Aage V. Jensen Foundation. The investment will be in the form of share capital, and it is the largest investment of the Danish Climate Investment Fund to date.

“The investment in Lake Turkana is a good example of the objective of the Danish Climate Investment Fund, which is, on a commercial basis, to reduce CO2 emissions in developing countries and increase transfer of Danish climate technology,” said Tommy Thomsen.