African Development Bank Provides $27 Million PRG for Turkana Wind Power Project

JOHANNESBURG--October 4, 2013--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--The African Development Bank (AfDB) has backed Kenya's Lake Turkana wind power project since its conception in 2009, including a $156 million loan. Now the bank has provided conditions for the development of the transmission infrastructure for the project with a $27 million partial risk guarantee (PRG). This mitigates risk and covers private lender and investors against the risk of a possible government failure, which is a contractual project obligation.