A new $311 million power deal in Kenya aims to build and operate two high-voltage transmission lines and substations.
The agreement is between the state-owned Kenya Electricity Transmission Company and a consortium comprising pan-African infrastructure investor Africa50 and the Indian government’s electricity transmission company Power Grid Corporation. No public funds have been committed, according to the Kenyan government agency.
Nearly three-quarters of Kenya’s 53 million-strong population has access to electricity, according to the International Energy Agency. The deal for the new power lines is designed to make the grid more reliable with the addition of renewable energy sources. Africa50 and Power Grid will have a 30-year window to recover their investment by charging tariffs.