World Bank Pullout Won’t Halt $877M Kenyan Wind Farm

Law360, New York (October 18, 2012, 6:23 PM EDT) -- A massive Kenyan wind power project will continue without backing from the World Bank, which declined to guarantee the 75 billion Kenyan shilling ($877.5 million) Lake Turkana Wind Power project due to disagreements over the plant's execution, Kenyan news outlets reported Wednesday.

The World Bank was to back the African Development Bank, Standard Bank of London and South Africa's Nedbank Ltd. in their quest to build the power project, but withdrew over concerns that the project was too big for Kenya's power grid, according to Kenya's...
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