GCube to insure Kinangop
Kenyan developer Aeolus has tapped Britain's GCube for insurance services for its 60.8MW Kinangop wind farm.
Under the deal for Kinangop, being built by Iberdrola Engineering around 38 GE 1.6MW turbines and expected on line in January 2015, GCube will underwrite construction and start-up delays as well as operational risks.
“The Kinangop project will be a real test of Kenya’s potential in wind energy,” says GCube head of onshore wind Stuart Burchell. “As the country looks to expand its power resource, along increasingly clean-technology lines, developments like Kinangop will become instrumental in paving the way for future renewable projects.”
Kinangop will be one of the largest wind projects so far in sub-Saharan Africa, generating power to supply the equivalent of 150,000 homes.
The national grid operator, Kenya Electricity Transmission, recently announced plans to build the Nairobi Ring, an electricity distribution system including a high-voltage network, four new substations and the extension of the city’s largest existing substation.
The Kinangop project brings GCube’s total insured capacity for African wind energy to more than 1.3GW.