A British firm is set to acquire a 31.25 percent stake in Lake Turkana Wind Power (LTWP) Limited which built the €630 million (Sh87.6 billion) wind farm through debt and equity.
LTWP says it will in the next 15 days make a formal application to the Energy and Petroleum Regulatory Authority to be allowed to sell the stake to CFP UK Holdings Limited, a company incorporated in England and Wales.
The wind farm has not disclosed the size of the deal that is coming ahead of 2024—the year the company estimates it will have fully recouped its investment in the project, according to earlier approximations.
LTWP is currently owned by six shareholders including Anergi Turkana Investments Limited and KP&P Africa B.V, a Dutch company.
Other shareholders include Danish Climate Fund through Investment Fund for Developing Countries, Vestas Eastern Africa Limited, Finnish Fund for Industrial Cooperation and Sandpiper Limited.