Africa Finance Corporation (AFC), Climate Fund Managers (CFM), FMO, the Dutch entrepreneurial development bank and Great Horn Investment Holdings (GHIH) have announced the investment for the construction and operation of a 60MW wind farm in the Ghoubet area, near Lake Assal in Djibouti.
Development of the 60MW wind project kicked-off in 2017 by AFC, CFM, as manager to Climate Investor One's (CIO) Construction Equity Fund, FMO and local developer Great Horn Investment Holdings (GHIH). The project is owned and operated by Red Sea Power, a Djibouti-based limited liability company. The project is expected to have its commercial operations start in 2022.