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Ministry backtracks on wind power project
Credit: Written By:O'Brien Kimani, Posted: Thu, Oct 25, 2012 | Kenya Broadcasting Corporation | www.kbc.co.ke ~~
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Translate: FROM English | TO English
The Ministry of Energy has stated that it will not guarantee the proposed Lake Turkana wind power project throwing the multi-billion power project off the balance.
Energy Permanent Secretary Patrick Nyoike says guaranteeing the 75 billion shillings wind power plant will weigh down on Kenya’s debt position risking downgrading from rating agencies.
The latest development adds to the growing woes facing the project days after the World Bank withheld it support to the project questioning its long term viability.
The Lake Turkana Wind power project is billed to be the largest wind power project in the southern hemisphere has been dogged by controversy since inception.
The 300 megawatts project developed teething problems in the initial stages after the government declined to guarantee the project before the World Bank stepped in to offer the much needed financial guarantee.
Since then the 75 billion shillings project has been jumping from one problem to another with the World Bank backtracking from her commitment early this month.
Last week the project was given a lifeline by the vision 2030 secretariat after it was endorsed by the Vision.
Kenya has in the past three years been increasing its energy generation with an aim of adding 15,000 megawatts to the national grid by the year 2030 from coal, wind, geothermal and solar.
The other guarantor the African Development Bank has assured that it is still committed to funding the Wind Power Project in spite of the pull-out by the bank.
The plant will be located in Loyangalani in Turkana County on a 40,000 acres piece of land.
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