African Development Bank helps drive change in Kenya

Abidjan, Ivory Coast, 31 July 2019 – Africa's largest wind farm, a € 620 million energy master plan generating 365 wind turbines in northern Kenya, will help the East African country stay on track to achieve its goal of 100% green energy by 2020.

Known as Lake Turkana Wind Power, the 40,000-acre wind farm will generate approximately 310 megawatts of power for the national grid, enough to light more than 300,000 households.

Winds sweeping through the area begin in the Indian Ocean and pbad through the "Turkana Corridor" created by the Ethiopian and Kenyan highlands. They blow regularly at a speed of 11 km / h, making it an ideal place to install wind turbines.

The wind farm will increase the country's electricity supply by 13%. At its launch earlier this month, President Uhuru Kenyatta said: "We are again raising the bar for the continent … Kenya is undoubtedly on the path to becoming a world leader in renewable energy."

The African Development Bank acted as a leader for a € 436 million senior credit facility for a project cost of € 623 million. The Bank also provided a partial risk guarantee of the African Development Fund of 20 million euros for the portion of the project devoted to transmission lines.

Since 2016, the Bank has invested approximately $ 4.5 billion in own resources in the energy sector.

The President of the African Development Bank, Akinwumi Adesina, has little doubt about the importance of Bank financing. "Africa's economic development is entirely based on political will. We have little time and much to do for the transformation of the continent needed to enlighten and fuel Africa by 2025. Projects like the Lake Turkana Wind Turbine allow us to take a leap forward towards our key goals. . The Bank is very proud to be badociated with this crucial addition to Africa's infrastructure and clean energy production. "

The continent has abundant or unlimited amounts of sun, water and wind, as well as significant amounts of natural gas and other natural resources and valuable raw materials. As a result, its New Deal invests $ 12 billion over five years and will mobilize up to $ 55 billion to achieve universal access to energy by 2025.

"It's a step we're proud to celebrate. Children can not learn a lot in the dark. School books must be dropped off at sunset. Life-saving vaccines can not be saved. Nurses and midwives must give birth with the help of lanterns or torches, "said Wale Shonibare, the banks alternate vice–President for energy, climate change and green growth.

"The launch of Turkana proves that we are determined to continue working tirelessly to fill Africa's energy gap. Our efforts will be felt in hundreds of thousands of Kenyan households and beyond, "Shonibare added.

The site is Kenya's largest renewable energy project and its largest private sector investment. The plant is expected to reduce electricity shortages by 12.5 percent and Kenya's electricity costs by up to 10 percent. This demonstrates Kenya's commitment to seek clean sources of energy and is a major boost to Kenya's international commitments to reduce greenhouse gas emissions.