- The seed investment includes funding for the planned acquisition by Milele of a significant stake in Africa’s largest wind farm, Kenya’s Lake Turkana Wind Power Project.
- Milele’s investments will aim to create hundreds of direct jobs during construction and potentially several thousand indirect jobs by providing clean and low-cost green electricity to power Kenya’s industrial growth.
Gemcorp Capital Management Limited is pleased to announce that it has committed a substantial capital investment into Milele Energy, a clean energy platform, to be headquartered in Nairobi, Kenya. Milele is focused on developing, acquiring, and optimising clean energy assets across sub-Saharan Africa. The seed investment includes funding for the planned acquisition by Milele of a significant stake in Africa’s largest wind farm, Kenya’s Lake Turkana Wind Power Project, with further plans to make significant expansion in generation capacity from available wind and solar resources.
Milele’s investments will aim to create hundreds of direct jobs during construction and potentially several thousand indirect jobs by providing clean and low-cost green electricity to power Kenya’s industrial growth. The initiative was officially announced at the AmCham Business Summit today in Kenya, attended by Kenya’s President William Ruto, US Ambassador to Kenya Meg Whitman, Milele’s Chairman Jay Ireland and CEO Erik Granskog Gemcorp Capital Clean Energy Portfolio Manager Pranav Khamar.
As Africa’s largest wind power farm, the project taps a wind resource that ranks amongst the world’s top 0.1%, making it one of the most productive wind farms in the world, with expansion opportunities able to produce multiple gigawatts, as Kenya’s energy demand expands to necessitate it. Milele Energy is led by three former GE Africa executives with 50+ years of cumulative experience in the African energy sector and was founded in 2019 by Erik Granskog, the company’s CEO and former Managing Director of GE Capital – Africa.