LONDON – The Lake Turkana Wind Power project was awarded another African Renewables Deal of the Year 2014 at the IJGlobal Awards 2014 Europe & Africa last night in London. The project was also named the African Renewables Deal of the Year 2014 by Project Finance International earlier this month. The IJGlobal Europe & Africa Awards are a celebration of the best in class deals in energy and infrastructure over the past year.
Reading from the feedback of the judging panel of the awards, host and IJGlobal editor, Sarah Tame, when announcing the Lake Turkana Wind Power project as winner, commented that: “This project is a very significant project for Kenya, with its huge associated transmission infrastructure likely to be used to connect future projects to the grid.”
Bracewell & Giuliani’s London-based energy team, which was recognized as Energy and Natural Resources Team of the Year at The African Legal Awards 2014, has been involved in the project on behalf of Vestas Eastern Africa Limited, who will supply and install the 365 Vestas V52-850 kW wind turbines and provide long-term maintenance of the wind turbines in contract with Lake Turkana Wind Power Limited.
The Lake Turkana Wind Power project aims to provide 310 MW of reliable, low-cost, onshore wind power to the Republic of Kenya’s national grid, which is equivalent to approximately 20% of the current installed electricity generating capacity. The project is of significant strategic benefit to Kenya, and at Ksh70 billion (€600 million) will be the largest single-private investment in Kenya’s history. The construction and long-term maintenance contracts also addressed unique challenges faced by the location of Lake Turkana, which is in one of the most remote areas of Kenya.
Bracewell attorneys that advised on this matter include:
Partner: Tracy C. London
Counsel: Matthew B. Mulqueen