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- 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.
