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Africa50, the pan-African infrastructure investment platform, and Power Grid Corporation of India Limited (POWERGRID) signed a Joint Development Agreement 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 set a reference point in Africa as the first financing of transmission lines on a PPP basis. This Project will also improve both the supply and reliability of power transmission in Western Kenya. It will further create a demonstration effect to help increase private sector investments into the expansion of Africa’s power transmission networks, which is critical to bridging the continent’s electricity access gap.
In this development partnership, POWERGRID, one of the world’s leading electric transmission utility companies 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.
The signing of this agreement underscores Africa50 and POWERGRID’s commitment to continue to dedicate resources to accelerate development activities on the project until financial close.
Commenting on the signing, the CEO of Africa50 Alain Ebobissé said “We are very pleased to partner with the Government of Kenya and POWERGRID to implement this important and pioneering project in one of our shareholder countries. In the past few years, a lot of emphasis has been placed on attracting private investments in energy production infrastructure in Africa. It is time to also focus on catalyzing private investment into the development of power transmission networks across Africa as these are a critical link to improving electricity access, especially in underserved communities”.
Signing on behalf of POWERGRID, the Chairman and Managing Director, Shri K. Sreekant, said, “POWERGRID is pleased to partner with Africa50 in undertaking the development of the first PPP mode transmission project in Kenya. Transmission plays an important role in bringing efficiency to the entire electricity supply chain. A robust transmission network not only imparts reliability and security to the electricity grid but also allows non-discriminatory access to buyers and sellers which spurs the competition that results into competitive electricity prices to ultimate consumer. POWERGRID hopes that the present transmission project in Kenya shall serve as a Model for undertaking more of such projects in Kenya as well as other African countries. POWERGRID with its rich technical and managerial experience in undertaking transmission systems under PPP mode, shall be pleased to be associated in this journey”.
About Africa50
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, comprised of 28 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib. For more information, visit: www.africa50.com
About POWERGRID Corporation
Power Grid Corporation of India Limited (POWERGRID), is one of the largest and best-managed Transmission utilities in the World. POWERGRID was incorporated in 1991 and since then it is carrying out planning, executing, owning, operating, and maintaining the EHV transmission systems in India. As on date, POWERGRID has implemented about 172,000 circuit km of EHV transmission lines ranging from 132 kV to 765 kV EHVAC, ±500kV & ±800kV HVDC along with 264 EHV substations with transformation capacity of over 468,000 MVA at an investment of over USD 35 Billion. Availability of POWERGID’s transmission system is consistently maintained above 99%, in line with international best practices, by adopting some of the state-of-the-art operation and maintenance techniques.
The quantum of Power Transmission network made by POWERGRID reflects its ability to efficiently handle large-scale Transmission projects from concept to commissioning and Operation & Maintenance thereafter. POWERGRID possesses the unique advantage of a utility turned consultant and is harnessing its expertise and experience in providing consultancy in all the facets of transmission Presently, it has footprints in 22 countries worldwide with a strong foothold in the South Asia, Central Asia, and Africa.
For more information visit: www.powergrid.in