Saturday, October 12, 2024 – The government of President William Ruto has finally signed the power deal with Adani Holdings despite public uproar.
This was announced
by Energy Cabinet Secretary Opiyo Wandayi yesterday.
The deal involves the
construction of 422 kilometres of vital transmission lines.
According to Wandayi, the
controversial deal marks a huge shift in power transmission across the country.
The contract, finalised on
October 9, 2024, comes after four months of intense negotiations, during which
the Adani Group faced scrutiny regarding its operational practices.
Despite concerns surrounding the
Adani Group, which has been embroiled in various controversies, Wandayi has
defended the partnership, highlighting the critical need for enhanced
electricity infrastructure to support Kenya’s burgeoning economy.
“Kenyans are well aware of the
significant challenge that our country faces with persistent power blackouts,”
Wandayi stated.
Details about the agreement
remain scarce, as KETRACO has opted not to disclose specifics.
The project's cost, estimated at
Ksh95.68 billion (approximately USD 736.51 million), will be financed through a
combination of debt and equity raised by the Adani Group, with repayment
expected over 30 years.
The Kenyan DAILY POST
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