EU approves KES3.5b for Turkana power scheme
14 November 2013, 11:01
Turkana - The European Union has approved a KES 3.5 billion investment grant for the Lake Turkana Wind Power Project.
The move comes as a major boost for the scheme as insufficient funds were stalling its progress.
The amount would be added on top of the over KES 22 billion debt financing that the board approved from the European Investment Bank recently.
“These funds will help to ensure that construction starts as soon as possible,” said European Union Ambassador to Kenya, Lodewijk Briet.
He further noted that the demand for affordable energy was growing and thus generating a sustainable, green energy for industries and households was key to the country’s continued successful development.
The Lake Turkana Wind Power Project is expected to generate 300 Megawatts to add to the national power grid.
The clean energy project is expected to reduce the consumption cost to end consumer.
The project is also expected to link the extensive Rift Valley region to the rest of the country through fibre-optic cable, infrastructure that will be laid towards the wind power project and lastly through electrification.
The Rift Valley plays an important role in the country’s power generation considering the region hosts the Olkaria geothermal power plant that provides substantial amount of power to the national grid.
- CAJ News