POWERGRID and Africa50 will jointly pioneer Africa’s first transmission PPP project in Kenya
Tags: International News
Power Grid Corporation of India Limited (POWERGRID) has signed a Joint Development Agreement with Africa50, the pan-African infrastructure investment platform to continue to develop the Kenya Transmission Project on a public-private partnership basis.
- The project entails the development, financing, construction, and operation of the 400kV Lessos – Loosuk and 220kV Kisumu – Musaga transmission lines under a public-private partnership (PPP) framework.
- Once completed, the project will be the first Independent Power Transmission (IPT) in Kenya and will set a reference point in Africa as the first financing of transmission lines on a PPP basis.
- In this development partnership, POWERGRID, will provide technical and operational know-how to the project, while Africa50 will bring its project development and finance expertise and will act as a bridge between the Kenyan government and private investors.
- Africa50 is an infrastructure investment platform that contributes to Africa’s economic growth by developing and investing in bankable infrastructure projects, catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact.
- Africa50 currently has 31 shareholders, comprising 28 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib.
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