African Bank OKs $150M Loan To Kenya Wind Project

Law360, New York (April 29, 2013, 7:02 PM EDT) -- The African Development Bank's board of directors on Friday approved €115 million ($150 million) in loans to back what will be the continent's largest wind power project, launching the next step in the $877.5 million endeavor.

The Lake Turkana Wind Power Project, which represents Kenya's largest single private investment in its history, will introduce 365 wind turbines in northeastern Kenya, according to a statement issued by the AfDB. Investors say they believe the plant will create business opportunities and link the landlocked region to the rest...
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