Adani Energy Solutions Ltd, part of Indian billionaire Gautam Adani’s conglomerate, has signed an agreement to build and run key electricity transmission lines in Kenya for 30 years. The deal was announced by Kenya’s Cabinet Secretary for Energy, Opiyo Wandayi. Adani Energy partnered with the Kenya Electricity Transmission Company Ltd (Ketraco) to upgrade the country’s power grid.
This project aims to improve Kenya’s electricity transmission infrastructure to provide more reliable power, as the country often faces power outages. The project will include building new transmission lines and substations.
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Adani Energy will finance the entire project through a combination of debt and equity, with a total cost of around 95.68 billion Kenyan shillings (USD 736 million). The funding will be repaid over the 30-year period of the agreement. After 30 years, Adani Energy will transfer the transmission lines and all associated assets to Ketraco.
The Kenyan government will not spend any money on the project. In addition to Adani’s involvement, Ketraco is also working with a consortium of Africa 50 and Power Grid of India on two other transmission line projects.
This partnership highlights Kenya’s focus on forming strategic agreements to support the country’s development and secure its future energy needs.
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