Kenyan independent power generation company Milele Energy has secured financing from London-based emerging markets asset manager Gemcorp to help the company fund its bid for a stake in the country’s largest wind facility, the 310 MW Lake Turkana project.
The funding will also support Milele’s Energy’s execution of a 500 MW-strong pipeline of power infrastructure projects across the continent.
The projects span both renewable energy technologies as well as gas for baseload applications.
According to Atanas Bostandjiev, CEO of Gemcorp, “We are extremely excited to be making this investment in Milele Energy, whose mission is to pursue investment to feed Africa’s growing demand for energy in a reliable and responsible manner aligns with our own.”
Milele Energy CEO Erik Granskog added that the company’s “mission is to unlock Africa’s abundant clean energy potential to meet the immense energy demands on the continent.”