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Google looks to invest in USD 700 mln Kenya wind farm

2015-06-12 13:53:00| Telecompaper Headlines

(Telecompaper) Google is in talks to become an investor in the USD 700 million, 40,000 acre Lake Turkana Wind Power Project in Kenya, CNBC reported, citing sources. The project's 310 megawatt capacity is expected to boost Kenya's installed energy capacity by 20 percent. If the deal gets finalised, which is not yet a given, Google would be a minority stakeholder. Google declined to comment on the report and Turkana said that the company was not yet involved in the project. Turkana has raised all the investment it needs. Kwame Parker, head of power and infrastructure for East Africa at South Africa's Standard Bank, noted that if Google did take a stake, it would be a significant vote of confidence for investors considering African power market entry. Parker helped arrange financing for Turkana but declined to comment more specifically on Google's plans.

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