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At Africa Energy Week: Invest in African Energies 2024, Willy Ireri, CEO of Milele Energy, unveiled the company’s vision to catalyze green energy solutions across Africa through financing mechanisms. In partnership with anchor investor Gemcorp Capital, Milele Energy focuses on advancing renewable energy projects that can sustain Africa’s energy transition.

Milele’s flagship project, the 310 MW Lake Turkana wind farm meets around 11% of Kenya’s power demand. "Our investment in Lake Turkana is a testament to our commitment to tapping into Africa’s abundant renewable resources," said Ireri. The project boasts one of the world’s highest capacity factors, with wind speeds averaging 11 m/s and a 60% capacity factor. “When we assess investments, we prioritize technical performance, as it’s the key driver of revenue,” he emphasized.

Building on the success of the Lake Turkana project, Ireri discussed its strategy to de-risk investments in Africa. "In Kenya, we have a team on the ground to provide insights into the local business and political landscape, which is crucial for making informed credit decisions," Ireri noted. This approach, combined with collaboration with DFIs and commercial banks, strengthens Milele’s capacity to support African energy projects.

Looking ahead, Milele Energy is keen to leverage Africa’s burgeoning demand for clean energy, particularly in the context of industrialization and new tech-driven sectors. "We see rising demand from data centers and tech industries, and we’re prepared to meet this with our current 400 MW capacity ready for deployment," said Ireri.