Harith Participates in US$870 Million Financing Agreement for the Lake Turkana Wind Power Project in Kenya (Sub-Saharan Africa)

Source: Harith General Partners

The Lake Turkana Wind Power Project (LTWP), intended to add 300MW of low cost wind energy to Kenya's national electricity grid, has signed financing agreements worth more than US$870 million, including a mixture of equity, mezzanine debt and senior debt. Pan-African infrastructure fund manager Harith General Partners, structured through its Power Africa fund, has committed US$70 million to the project. Other LTWP partners and shareholders include development finance institutions FMO, Finnfund and IFU, wind energy company Vestas and renewable energy investor KP&P. The syndicate of banks is led by the African Development Bank and comprises Standard Bank, Nedbank, European Investment Bank, DEG and Proparco.