Africa’s largest wind power project is a go.
African Development Bank President Donald Kaberuka and Elizabeth Littlefield, president and CEO of the U.S. Overseas Private Investment Corp., signed on Friday a letter of intent to finance the 310-megawatt Lake Turkana Wind Power Project in northern Kenya.
Investors hope the project will help address a power supply shortfall in the country, which experiences frequent outages and could save up to $150 million annually on imported electricity.
“This project was not easy to mount,” Kaberuka said during the signing ceremony in Washington, D.C. while Littlefield noted she hopes this partnership will be a model for many in the future between AfDB and OPIC.
Kaberuka agreed and added: “We can leverage on each other’s strengths.”
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About the author
Jeff Tyson@jtyson21
Jeff is a former global development reporter for Devex. Based in Washington, D.C., he covers multilateral affairs, U.S. aid, and international development trends. He has worked with human rights organizations in both Senegal and the U.S., and prior to joining Devex worked as a production assistant at National Public Radio. He holds a master's degree in journalism from Columbia University and a bachelor’s degree in international relations and French from the University of Rochester.