Standard Bank provides EUR50m equity finance to refinance Anergi’s interests in Africa's largest wind farm
04 Nov 2022
Country
Kenya
Year
2022
Sector
Energy and Infrastructure
Business Unit
Corporate and Investment Banking
Specific Role
Sole Lender and Mandated Lead Arranger
Standard Bank is proud to announce that it has provided Anergi with a EUR50m structured equity financing refinance solution for Africa's largest wind farm, Lake Turkana Wind Power.
Anergi is a diversified power company that develops, owns and operates power plants across sub-Saharan Africa, with 5 energy plants across Ghana, Kenya, Nigeria and South Africa in which they supply energy to 23 million Africans. Lake Turkana Wind Power owns and operates Africa’s largest wind farm (310MW), comprising 365 wind turbines. The wind farm is located in the Loiyangalani District of Marsabit County in Kenya, provides reliable, low-cost energy to Kenya’s national grid and constitutes approximately 17% of Kenya’s installed capacity.
This transaction will assist Anergi to continue providing accessible and affordable renewable electricity in Kenya, while also contributing to the country’s energy security and reducing the need for carbon-based energy sources.
Power remains a persistent challenge on the continent for the foreseeable future, and Standard Bank is committed to supporting renewable energy projects that aim to address said challenge. We look forward to partnering with other stakeholders to ensure the development of energy infrastructure and the sustainable development of Africa.