Proparco, the French development finance institution, has acquired an equity stake in Meridiam’s 100MW Kipeto Wind Farm, strengthening its commitment to renewable energy and sustainable infrastructure in Africa. The investment is a co-participation alongside the Meridiam Infrastructure Africa Fund II, in which Proparco is already an investor.
Located approximately 70 km south of Nairobi, Kipeto is Kenya’s second-largest wind power plant. Since July 2021, it has been operating commercially under a long-term Power Purchase Agreement (PPA) with Kenya’s national utility, delivering clean and reliable energy to the grid.
Jean Guyonnet-Dupérat, Regional Director for East Africa at Proparco, emphasized the strategic importance of this partnership:
Partnering with Meridiam at Kipeto reinforces our commitment to accelerate Africa’s low-carbon transition while delivering tangible socio-economic benefits. Kipeto provides dependable, affordable clean power, avoids over 200,000 tonnes of CO₂ annually, supports jobs, and channels a share of profits to community projects – fully consistent with Proparco’s mandate and Kenya’s climate ambitions.
Thierry Déau, Founder and CEO of Meridiam, welcomed Proparco’s involvement:
We’re pleased to welcome Proparco as a co-investor in the Kipeto wind farm, reinforcing a strong partnership built on successful joint projects across Africa. United by a commitment to sustainable infrastructure, Meridiam and Proparco have backed transformative initiatives in clean energy, transport, and digital access – including Dakar’s electric bus rapid transit system and the Biovea biomass power plant in Côte d’Ivoire.
