Kenya’s Kipeto Wind Power Project has announced it has secured a $10 million loan agreement arranged by BTE Renewables alongside Craftskills Limited, The Nature Conservancy (TNC) and unnamed private impact investors.
In a statement, the firm said the loan will facilitate funding, over the life of the project, towards implementing local human-wildlife initiatives in the areas surrounding the wind project.
Kipeto is Kenya’s 2nd Largets Wind Power Project
Kipeto, consideredthe second largest wind power project in Kenya, reached full commercial operations in July 2021. The project is supplying 100MW of additional power to the Kenya national grid while providing clean power to approximately 250,000 households.
Located in Kajiado county, 45 km away from Kenya’s capital, Nairobi, Kipeto claims it is implementing an ambitious biodiversity action plan (BAP), which comprises close collaboration with the local community to protect the surrounding flora and fauna.
BTE and TNC designed the investment via a $10 million fixed-rate mezzanine loan to the project, alongside a commitment by the project to provide annual funding for critical conservation initiatives throughout the life of the wind power project. The use of this funding will be governed by the biodiversity subcommittee of Kipeto’s Board, which comprises leading independent local and international avifauna organisations.
READ; 100MW Kipeto Wind Farm Project in Kajiado Now Complete
