Partnership
PowerGrid and Africa50 in Joint Development Agreement

PowerGrid,Africa50 sign agreement


to pioneer Africa's first transmission PPP project in Kenya

The agreement signing underscores PowerGrid and Africa50's commitment to continue to dedicate resources to accelerate development activities on the project until financial close.

Thesynergyonline Corporate Bureau
GURUGRAM,JANUARY 12 :

Power Grid Corporation of India (PowerGrid) a Maharatna CPSU under Ministry of Power, Government of India has signed a Joint Development Agreement with Africa50, the pan-African infrastructure investment platform to continue to develop the Kenya Transmission Project on a public-private partnership basis.

The project entails the development, financing, construction, and operation of the 400kV Lessos – Loosuk and 220kV Kisumu – Musaga transmission linesunder a public-private partnership (PPP) framework. Once completed, the project will be the first Independent Power Transmission (IPT) in Kenya and will set a reference point in Africa as the first financing of transmission lines on a PPP basis.

The project will also improve both the supply and reliability of power transmission in Western Kenya and further create a demonstration effect to help increase private sector investments into the expansion of Africa's power transmission networks, which is critical to bridging the continent's electricity access gap

The signing of this agreement underscores PowerGrid and Africa50's commitment to continue to dedicate resources to accelerate development activities on the project until financial close.

PowerGrid CMD :

Signing on behalf of Powerrid, the Chairman and Managing Director, Mr K. Sreekant, said, "PowerGrid is pleased to partner with Africa50 in undertaking development of first PPP mode transmission project in Kenya. Transmission plays an important role in bringing efficiency in the entire electricity supply chain. A robust transmission network not only imparts reliability and security to the electricity grid but also allows non-discriminatory access to buyers and sellers which spurs the competition that results into competitive electricity prices to ultimate consumer. PowerGrid hopes that the present transmission project in Kenya shall serve as a Model for undertaking more such projects in Kenya as well as other African countries.

PowerGrid with its rich technical and managerial experience in undertaking transmission systems under PPP mode shall be pleased to be associated in this journey".

PowerGrid and Africa50 in Joint Development Agreement

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