• Proparco has made an equity investment in Kenya’s 100-MW Kipeto wind farm alongside Meridiam Infrastructure Africa Fund II.

• Kipeto produces 432 GWh a year, powers 250,000 households and avoids 200,000 tonnes of CO₂ annually.

• Meridiam acquired 88% of Kipeto in 2023, while Craftskills retains 12%.

Kenya continues to expand its renewable energy mix, which relies heavily on geothermal and hydropower. Wind accounted for 14% of national electricity generation in 2023, and new investments aim to consolidate this growth.

Proparco, the French development finance institution, announced on Wednesday, November 12, that it has made an equity investment in the 100-MW Kipeto wind project located in Kajiado County. The institution did not disclose the value of the transaction.

Proparco said it invested alongside the Meridiam Infrastructure Africa Fund II, managed by infrastructure specialist Meridiam, which has held the majority stake in Kipeto since 2023.

Kipeto consists of 60 General Electric turbines and generates roughly 432 GWh per year. Kenya Power and Lighting Company (KPLC) purchases the output under a 20-year power purchase agreement signed in 2016. The wind farm supplies the equivalent electricity consumption of around 250,000 households and avoids more than 200,000 tonnes of CO₂ annually.

“By investing in the second-largest wind power plant in Kenya, and as the country’s leading bilateral partner in energy supply, France reaffirms its commitment to helping Kenya achieve 100% renewable electricity production and universal access by 2030,” said Arnaud Suquet, France’s ambassador to Kenya.

Kenyan developer Craftskills initiated the project in 2008. The full facility, including a 17-kilometre transmission line, was built in 24 months. Meridiam completed the acquisition of an 88% stake from Actis in December 2023, while Craftskills retained 12%.

Proparco said the investment aligns with its strong activity across Africa. Its 2024 balance sheet shows €1.284 billion committed on the continent, representing 47% of its annual projects.

The institution’s entry into Kipeto’s shareholding strengthens the wind farm’s financial structure at a time when Kenya continues to pursue an electricity supply dominated by renewable sources.

This article was initially published in French by Abdoullah Diop

Adapted in English by Ange Jason Quenum