in News Departments > New & Noteworthy
print the content item

The board of directors of the Overseas Private Investment Corp. (OPIC), the U.S. government's development finance institution, has approved an investment guaranty of up to $250 million to support construction of the Lake Turkana wind power project in northern Kenya.

OPIC says it joins several development finance institutions and private lenders in providing financing for the 310 MW project, which will be the single largest wind power project in Africa and is projected to serve more than 2.5 million Kenyan homes, boosting the country’s installed energy capacity by 20%. The project is expected to create over 2,000 jobs during the construction phase and sustain nearly 200 full-time jobs when operational.

OPIC says it is playing a key role in President Barack Obama’s Power Africa Initiative, which aims to catalyze private investors to produce 10 GW of new energy for the more than 600 million Sub-Saharan Africans currently living without power. OPIC has committed to provide $1.5 billion to develop energy projects throughout Sub-Saharan Africa over the next five years in support of the initiative.




Trachte Inc._id1770
Latest Top Stories

Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?


GE Blade Crashes At Mehoopany Wind Farm In Pennsylvania

The turbine manufacturer says the Nov. 2 incident is "isolated and unrelated" when compared to earlier blade issues.

Hybrid Energy Innovations 2015
Renewable NRG_id1934
BG 2015DblBox_id2032