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.



Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.

BG 2015DblBox_id2032
Canwea_id1984
Renewable NRG_id1934
Hybrid Energy Innovations 2015