Kipeto Energy has announced it has reached financial close following the acquisition by Actis of the respective equity interests of IFC, a member of the World Bank Group and African Infrastructure Investment Managers' (AIIM), a member of Old Mutual Alternative Investments.
The project is now funded by equity from Actis (88%) and Kenyan company Craftskills Wind Energy International (12%) alongside senior debt from the Overseas Private Investment Corporation (OPIC), the US Government's development finance institution. Once operational, Kipeto, located in Kajiado county, will supply 100MW of clean energy to the national grid. The project is now preparing for the construction of 60 GE 1.7-103 wind turbines and a 17km (220KV) transmission line to carry the power to Isinya substation in Kajiado County.