Kenya Signs $736 Million Deal With Adani for Power-Line Project
Indian billionaire Gautam Adani’s company will finance, construct, operate and maintain the transmission lines for a period of 30 years, Wandayi said in a statement on Friday.
(Source: Adani Power website)
(Bloomberg) --Kenya signed a $736 million deal with Adani Energy Solutions Ltd. for the construction of three power lines, according to Energy Secretary Opiyo Wandayi.
Indian billionaire Gautam Adani’s company will finance, construct, operate and maintain the transmission lines for a period of 30 years, Wandayi said in a statement on Friday. The projects are designed to enhance Kenya’s power infrastructure to ensure reliable and widespread access to electricity, he said. The nation has recently faced persistent outages.
“By enhancing electricity transmission capacity, the government aims to support industrial growth and improve regional integration, ensuring stable and reliable power for industries and households across the country,” Wandayi said.
Kenya Electricity Transmission Co. is also in talks with a consortium of infrastructure funding platform Africa50 and state-owned Power Grid Corp. of India Ltd. to build two power lines, he said.
A separate proposal by the India-listed conglomerate for a 30-year concession to operate the nation’s biggest airport triggered protests, Senate hearings and lawsuits. The deal has been frozen by a high court after opponents argued it breached constitutional principles of good governance, transparency and responsible use of public money.
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