The Board of Directors of the Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has approved an investment guaranty of up to US$ 250 million to support construction of the Lake Turkana Wind Power project in northern Kenya.
OPIC joins several development finance institutions as well as private lenders in providing financing for the 310MW. The project is projected to create over 2,000 jobs during the construction phase and sustain nearly 200 full-time jobs when operational.