IFU sells stake in Kenyan wind farm to BlackRock

The Danish Climate Investment Fund, managed by IFU, has sold its shares in Lake Turkana Wind Power.

Reik Haahr Müller, head of green energy and infrastructure at IFU

Africa Private Equity News’ Connect messaging service is now free. Directly message other private equity professionals in our community.

1. Download the free Africa Private Equity News app: Android | iOS (or search for it in the app store)

2. Tap on the top-right icon to log in or register a free account

3. Tap on bottom-right Connect icon to start chatting

---

The Danish Climate Investment Fund (DCIF), managed by IFU, has sold its shares in Lake Turkana Wind Power, the largest wind farm in Africa.

DCIF has been a co-owner of Lake Turkana Wind Power since construction began in 2014.

DCIF’s shareholding of 6.25% in Lake Turkana Wind Power has now been sold to the Climate Finance Partnership, a public-private finance vehicle managed by BlackRock.

“Lake Turkana Wind Power is a flagship project, and we are proud to have played an active role in bringing this pioneering project through construction and into operations, providing affordable and reliable green energy in Kenya,” says Reik Haahr Müller, head of green energy and infrastructure at IFU.

Lake Turkana Wind Power is located in the Loiyangalani district of Marsabit county and was connected to the national grid in 2018. Today, it meets around 14% of Kenya’s current electricity demand, serving 1.2 million households.

The electricity is produced by 365 wind turbines (310 MW) from Vestas, and the establishment of the wind farm included the construction of 200 km of road and a 400 km transmission line connecting the wind farm with the national grid.

DCIF was set up in 2014 in cooperation with large Danish pension funds and private investors, including PKA, PensionDanmark, PBU, Aage V. Jensens Fonde and Dansk Vækstkapital.

* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.