Chairman Carlo Van Wageningen Explains How Lake Turkana Wind Power is On Track with Its Plans to Revolutionise Kenya’s Electricity Supply with Energy Digital

July 6, 2011 0 Comments

Energy Digital spoke to the founding fathers of the project to discover how they were planning to generate up to 30 percent of Kenya’s electricity supply

SAN DIEGO, CA, June 25, 2011 /24-7PressRelease/ — Energy Digital spoke to the founding fathers of the project to discover how they were planning to generate up to 30 percent of Kenya’s electricity supply. A year later, we revisit the project to see how far it’s progressed, what the current situation is, and find out how long before LTWP is fully operational.

“We have firmed up the full equity for the project. We have successfully finalised the equity participation in the project and the joint development agreement,” says Chairman Carlo van Wageningen. “We now have commitments for entry into the project by new partners and this will happen at financial close.”

Although government support has been fantastic throughout, providing a guarantee for a private undertaking has proved troublesome due to Kenyan law. After working closely with the Minister of Finance, LTWP were able to secure an Escrow account between the government and the Kenya Power and Lighting Company.

“The government was able to provide a letter of support, which isn’t a guarantee, but supports the project confirming to the lenders that they want to share the responsibilities and it won’t affect the country’s budget,” reveals van Wageningen.

Read the full report here.

About Lake Turkana Wind Power

Lake Turkana Wind Power (LTWP) is a renewable energy project which aims to provide clean energy to Kenya’s national electricity grid. The venture aims to construct 365 wind turbines each with a capacity of 850KW and once completed, it will become the largest wind power project in Africa.

About Energy Digital
Energy Digital is a leading digital media source of news and content for C-level executives focused on business and all aspects of managing the environment. Energy Digital provides information for industry specific issues such as: Renewables; Global Operations; Exploration and Production, and Green Business. Energy Digital is the industry-dedicated arm of the White Digital Media Group (http://twitter.com/#!/whitedigitalm). Founded in 2007 by entrepreneur Glen White, White Digital Media (http://www.whitedm.com/) retains a diversified portfolio of websites, magazines, daily news feeds and weekly e-newsletters that leverage technology to innovatively deliver high-quality content, analytical data, and industry news.

Energy Digital is headquartered in San Diego, California, with additional offices in Boston, Toronto, Mumbai, and Norwich, England. For more information, contact 1-760-827-7800 or visit http://www.energydigital.com.

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