INTERNET giant Google has committed to invest up to $40 million (Sh4.08 billion) in the Lake Turkana Wind Power Project, raising the the number of international investors that have shown interest in the project.
Google joins the Overseas Private Investment Corporation, the US government’s development finance institution and Danish firm Vestas, which is also supplying the turbines for the wind farm.
The company yesterday said it will purchase Vestas’ 12.5 per cent stake in project once it comes aboard, becoming the first US private investor to back the project.
Google’s country manager for Kenya Joseph Mucheru said the company was attracted by the project’s viability, which makes financial sense.
Making the announcement yesterday, Mucheru said the Lake Turkana Wind Power project has the potential to have a massive impact on Kenya’s energy grid and will help accelerate the deployment of renewable energy in one of the
world’s fastest-growing countries.
Once operational, the project will inject 310 megawatts of clean energy onto Kenya’s grid, enough to power more than two million households across the country.
“Lake Turkana will help bring much needed capacity and stability to Kenya’s energy supply, reducing reliance on fossil fuels and emergency diesel generation while providing some of the most cost effective power in the
country,” said Mucheru.
The construction of the wind project at Loiyangalani in Marsabit County is expected to spur additional energy development in the region, and will be supported by construction of 266-mile transmission line.