Vestas has completed the sale of its shares in the 310MW Lake Turkana Wind Power project in Kenya.
The 12.5% stake has been acquired by the Climate Finance Partnership (CFP), which is managed by BlackRock, after CFP in March 2023 announced its intention to acquire the shares held by Vestas Eastern Africa Ltd.
The purchase price remains undisclosed.
The LTWP wind farm remains the largest in Africa to date.
Vestas has been a shareholder in LTWP since 2014 from development and construction until power generation.
The project was connected to the national Kenyan grid in 2018.
The divestment follows Vestas strategy of developing wind farms without being a long term owner.
The sale is the result of a sales process run by Vestas in cooperation with Finnish Fund for Industrial Cooperation (Finnfund) and the Danish Investment Fund for Developing Countries (IFU), who have also sold their respective shares in LTWP to CFP.
The transaction will have negligible impact on Vestas earnings or outlook, the turbine manufacturer said.