Climate Finance Partnership (CFP), a BlackRock Alternatives-managed fund, has acquired a 31.25 per cent stake in Lake Turkana Wind Power, a 310 MW wind project in Kenya.
For an undisclosed sum, the stake was bought from Vestas, Finnfund, and the Investment Fund for Developing Countries. The Lake Turkana Wind Power project is located in Kenya’s far north region and is equipped with 365 wind turbines. The deal represents BlackRock Alternatives’ first private investment in any African country. Completion of the deal is subject to the receipt of regulatory approvals.