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German bank invests in Turkana wind project

By Correspondent | Jul. 3, 2015

Germany has agreed to give a Sh2.2 billion (euros 20m) loan to help build the Lake Turkana Wind Power project. For its development and construction, Germany's development Bank (DEG) is providing the operating company, SPV Lake Turkana Wind Power Ltd. (LTWP), with the mezzanine loan.

Further lenders are the African Development Bank, the European Investment Bank, the European development finance institutions Proparco (France) and FMO (Netherlands) and other African development finance institutions and commercial banks, including the Standard Bank of South Africa Ltd.

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