ATI backs $233m Kipeto wind project in Kenya

In:

Renewable energy

Region:

Middle East & Africa

The African Trade Insurance Agency (ATI) is to support the launch of the $233 million Kipeto wind project - developed by the British company Actis - in south-west Kenya.

Financing is provided by Overseas Private Investment Corporation. ATI will provide ten-year insurance coverage, renewable on demand, "to protect the project against the risk of late payment in electricity purchase".

The park will be built on a 70 km2 site. It has a capacity of 100MW. Kipeto’s energy will be sold exclusively to the national distributor, Kenya Power, under a 20-year power purchase agreement.

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