Ketraco Signs A 30-Year Ksh 95.7 Billion Deal With Adani Group
KEY POINTS
“The agreement marks the beginning of a transformative initiative to develop, finance, construct, operate, and maintain key transmission lines and substations across Kenya," - Opiyo Wandayi.
KEY TAKEAWAYS
“The project cost, which is currently estimated at Sh95.68 Billion (USD 736m) will be crystallised through a competitive bidding process, that will be jointly handled by Ketraco and the Project Company, thus ensuring significant value for money for the country," Opiyo Wandayi,
The Kenya Electricity Transmission Company Limited (Ketraco) has signed a Project Agreement with Adani Energy Solutions Limited to manage the transmission line for 30 years, ensuring long-term sustainability and efficiency, and after that transfer the project and all its assets to KETRACO.
According to Energy CS Opiyo Wandayi, the project is estimated to cost 95.68 billion shillings. The signing comes after what Wandayi termed as a 4-month deliberation process.
“I am pleased to announce the successful signing of the Project Agreement between the Kenya Electricity Transmission Company Limited (KETRACO) and Adani Energy Solutions Limited today (the Project Company),” Wandayi said. “The agreement marks the beginning of a transformative initiative to develop, finance, construct, operate, and maintain key transmission lines and substations across Kenya.”
The CS said the agreement will ensure reliable and widespread access to power that will support Kenya’s growing economy and development goals. “All Kenyans are well aware of the significant challenge that our country faces with persistent power blackouts.”
Read Also: Adani Group To Invest $900 Million In Tanzania Power Lines
He added: “The project cost, which is currently estimated at Sh95.68 Billion (USD 736m) will be crystallised through a competitive bidding process, that will be jointly handled by Ketraco and the Project Company, thus ensuring significant value for money for the country.”
He said that the government will not incur any financial expenditure for the project adding that it will benefit from world-class energy infrastructure ensuring value for money and that Ketraco conducted comprehensive due diligence on Adani Energy Solutions as the project proponent before signing the agreement.
He added that the collaboration with Adani Energy Solutions ensures long-term management and maintenance of these vital infrastructure assets, securing the future of Kenya’s energy supply.
“The government remains committed to supporting the timely and successful implementation of transformative development projects such as this… We believe this initiative will not only bolster our energy infrastructure but also contribute to the economic and social transformation of the country,” he said.
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