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

Alberta Breaks Wind Power Record, Then Does It Again

Last week, the Alberta Electric System Operator recorded new wind production peaks in the Canadian province - highlighting how well the grid integrated the renewable energy.


Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.

Canwea_id1984
Renewable NRG_id1934
Navigant_id1983