Proparco in co-investment alongside Meridiam Infrastructure Africa Fund II
The French development finance institution has taken an equity stake in Meridiam’s 100MW Kipeto wind farm in Kenya.
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Proparco, the French development finance institution, has taken an equity stake in Meridiam’s 100MW Kipeto wind farm in Kenya. The transaction is a co-investment alongside the Meridiam Infrastructure Africa Fund II, in which Proparco is an investor.
Kipeto is the second‑largest wind power plant in Kenya, located approximately 70 km south of Nairobi. It has been in commercial operation since July 2021 under a long-term power purchase agreement with Kenya’s national utility.
“Partnering with Meridiam at Kipeto reinforces our commitment to accelerate Africa’s low‑carbon transition while delivering tangible socio‑economic benefits,” said Jean Guyonnet-Dupérat, regional director for East Africa at Proparco. “Kipeto provides dependable, affordable clean power, avoids over 200,000 tonnes of CO₂ annually, supports jobs and channels a share of profits to community projects – fully consistent with Proparco’s mandate and Kenya’s climate ambitions.”
Thierry Déau, founder and CEO of Meridiam said: “We’re pleased to welcome Proparco as a co-investor in the Kipeto wind farm, reinforcing a strong partnership built on successful joint projects across Africa. United by a commitment to sustainable infrastructure, Meridiam and Proparco have backed transformative initiatives in clean energy, transport, and digital access in Africa – including Dakar’s electric bus rapid transit system and the Biovea biomass power plant in Côte d’Ivoire.”
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