Vestas closes stake sale in Lake Turkana wind farm in Kenya

Vestas Wind Systems A/S (CPH:VWS) today confirmed it has sold its 12.5% stake in the 310-MW Lake Turkana wind farm in Kenya to the Climate Finance Partnership (CFP), which is managed by BlackRock Inc (NYSE:BLK).

The Danish wind turbine manufacturer said in a press statement that this divestment follows its strategy to develop wind projects without remaining their long-term owner. It reiterated that the Finnish Fund for Industrial Cooperation Ltd, also known as Finnfund, and the Danish Investment Fund for Developing Countries (IFU) have also sold their shareholdings in Lake Turkana Wind Power Limited (LTWP) to CFP.

Operating since 2018, the Lake Turkana wind park’s 365 Vestas turbines currently supply approximately 14% of the overall electricity demand in Kenya.

Vestas, which has been a shareholder in the project company since 2014, will continue to service the turbines. It said that the stake sale will have a negligible impact on its earnings and outlook.

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