Friday, June 2 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of May 29
Week of May 22
Week of May 15
Week of May 08
Week of May 01
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    UK Firm, CFP UK Holdings LTD, to Acquire 31.25% Stake in Lake Turkana Wind Power

    March 14, 2023 - Rosemary Muthoni


      CFP UK Holdings Limited (CFP), a company based in the United Kingdom, is set to acquire a 31.25% stake in Lake Turkana Wind Power (LTWP).

      Lake Turkana Wind Power owns a wind-powered electricity generation plant in Loyangalani, located in Marsabit county, with 310 megawatts (MW) capacity.

      LTWP announced that they will submit an application to the Energy and Petroleum Regulatory Authority seeking approval for the acquisition agreement.


      Subject to relevant regulatory approvals being obtained and other various condition precedents being satisfied in relation to the proposed transaction, CFP intends to partner with the existing shareholders of the company to ensure the success of the 310MW wind-powered electricity generation plant at Loyangalani, Laisamis district, Kenya.

      Lake Turkana Wind Power

      LTWP is owned by six shareholders, including Anergi Turkana Investments Limited, KP&P Africa B.V, Danish Climate Investment Fund I K/S, Vestas Eastern Africa Limited, Finnfund - the Finnish Fund for Industrial Cooperation, and Sandpiper Ltd.

      The value of the forthcoming deal is unknown.

      With a capacity of 310 megawatts, LTWP can power up to one million homes.

      According to Nation, in 2009, it signed a power purchase agreement (PPA) with Kenya Power and Lighting Company (KPLC) requiring LTWP to finance, design, procure, construct, install, test, commission, operate, maintain, and exclusively sell net electricity output to KPLC.

      Meanwhile, KPLC was obligated to evacuate all net electric power from LTWP once commissioned for 20 years.

      Although LTWP commissioned its power plant on January 27, 2017, the government's failure to complete the evacuation line until September 24, 2019, resulted in delays and hefty penalties to taxpayers.

      For instance, two years ago, taxpayers paid a KES 18 billion penalty due to the 381-day delay in completing the 428km high-voltage power line from Marsabit to Suswa substation in Narok, the main interchange for power from various sources.

      Read Also: Google Drops Plan to Invest in Lake Turkana Wind Power


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.