IFC InfraVentures, the private sector investment arm of the World Bank, will help secure finance for the Mpeketoni wind farm, which has been in development since 2011.
“Electrawinds considers IFC to be a key partner to further develop, finance and, eventually, operate the wind farm. A joint development team has been set up,” Electrawinds said in a statement.
The company said it expects to win planning consent this year in readiness to begin construction next year. However, Electrawinds did not disclose how much IFC would inject into the wind project.
The power generated at the Mpeketoni wind farm will be injected into the national grid.
The project comes at a time when the Kenya Electricity Transmission Company (Ketraco) is building a 323km 220 KV power line from Rabai to Lamu at a cost of Sh9 billion.
The Ketraco project is funded by the China Exim Bank under the rural electrification programme, aimed at providing power connection to the upcoming Lamu port and the surrounding infrastructure.
Currently Lamu is not connected to the national power grid and relies on a 2.4MW thermal power generator running on industrial diesel for its power needs.
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