London-based buyout firm Actis LLP is looking to acquire a stake of 88% in the 100-MW Kipeto wind project in Kenya, an official has told Bloomberg.
Kenneth Namunje and certain other partners at Craftskills Wind Energy International Ltd will cede some shares and thus reduce their combined stake in the project to 12% from 20%, he was quoted as saying.
At the same time, Actis is negotiating the purchase of a 55% interest from African Infrastructure Investment Managers (AIIM) and a 20% stake from the International Finance Corp (IFC), Namunje has added. When contacted by Bloomberg, the IFC has confirmed that Actis is buying the two parties’ equity interests in the project.
The Kipeto wind farm will be equipped with 60 turbines of US conglomerate General Electric Co (NYSE:GE), each with a hub height of 80 m and rotor blade of 51 m. The plant will be built in Oldonyo Narok, Kajiado county, some 50 kilometres south west from the capital Nairobi. It has a 20-year power purchase agreement (PPA) with Kenya Power.