According to a report by CNBC, Google is allegedly in talks to become an investor in a USD 700 million, 40,000 acre Lake Turkana Wind Power Project – which is located in Kenya.
The project’s 310 megawatt capacity is expected to boost Kenya’s installed energy capacity by 20 percent.
According to the report, if the deal is finalised, Google would be a minority stakeholder; however, Google has declined to comment on its involvement.
According to CNBC’s sources, no deal has been finalised as of yet. Kwame Parker, head of power and infrastructure for East Africa at South Africa’s Standard Bank, noted that if Google did take a stake, it would be a significant vote of confidence for investors considering African power market entry. Parker helped arrange financing for Turkana but declined to comment more specifically on Google’s plans.
Most of Google’s renewable energy investments have been domestic, largely in wind and solar farms in places like West Texas and California’s Mojave Desert, but the company is also looking beyond. In 2013, Google invested USD 12 million in South Africa’s Jasper Power Project.