Overseas Private Investment Corp. (OPIC), the U.S. government's development finance institution, has approved new financing commitments, including funding to support a Kenyan wind power project.
The OPIC board has approved up to $233 million in financing to support construction and operation of the 100 MW Kipeto wind power project, located in Kajiado County, Kenya. OPIC says this source of renewable power would make a significant contribution to the installed energy capacity in Kenya, where up to 80% of the population currently lacks electricity access.
Elizabeth Littlefield, OPIC's president and CEO, says, "Whether supporting inclusive growth of South Asian business or addressing the deep need for expanded energy access in Africa, OPIC is helping investors realize the inherent opportunity in positive development impact overseas."
