Google drops plans to buy stake in Kenya’s Lake Turkana Wind Power(East Africa)
3 minutes read
· Google had announced plans to buy a 12.5 percent stake in
Kenya’s Lake Turkana Wind Power
· It dropped the plan to buy its stake in LTWP after delays in
the project
Global technology leader Google had announced its plans to buy a 12.5
percent stake in Kenya’s Lake Turkana Wind Power (LTWP). However,
according to official sources it has dropped the plan to buy its stake
in LTWP after delays in the project.
Africa’s largest wind farm the 310 megawatt (MW) Lake Turkana wind
farm is expected to provide 15 percent of Kenya’s total electricity
needs. It was initially set for launch in 2017, but remained idle due
multiple reasons. These included delays in installation of
transmission lines needed to get the clean power to the national grid
and customers, demands for compensation from landowners along the
route and other issues. As a result, it was officially commissioned
only last July.
Google had committed to buy the stake from Vestas, a Denmark based
firm. Vestas said in a statement that the delays led to Google cancel
the investment plan. The statement added that the company’s strategy
does not allow to be a long term Wind park owner and that it was on
the lookout for potential buyers of its shares.
Apart from online advertising business, Google has diversified into
other ventures, including investments in renewable energy projects. It
has invested billions of dollars in solar and wind power plants.
Sundar Pichai, Google chief executive said in a blog that Google has
become the largest corporate buyer of renewable energy in the world.
Currently, it has interest in 52 renewable energy projects around the
world, committing more than $7 billion.
