Nipate
Forum => Kenya Discussion => Topic started by: RVtitem on October 12, 2017, 07:42:39 AM
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A Swedish firm that wanted to construct Africa’s largest wind power plant in Malindi at a cost of Sh253 billion has relocated the investment to Tanzania, citing frustration by Kenyan authorities.
VR Holding AB had last year expressed interest in building a 600-megawatt (MW) wind farm in the Indian Ocean waters bordering Ras Ngomeni in Malindi, but Ministry of Energy officials turned down the request citing lack of a framework for renewable energy projects of that scale besides low demand for electricity in the country.
http://www.businessdailyafrica.com/news/Swedish-firm-moves-Sh253bn-Malindi-Tanzania/539546-4134062-3qyewe/index.html
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Looks like they are worried about a white elephant.
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Looks like they are worried about a white elephant.
Precise. It smells like a trojan horse. The much sought after mzungu investor thugs wanted to acquire coastal land in the name of so-called green energy, and in the process displace people.
They may not be lucky with Tanzania either, Magufuli is on a rampage over dubious signed deals such as this.
http://m.ippmedia.com/en/news/magufuli-orders-ban-any-more-dubious-power-deals
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Africa is a tough place. Someone wants 10% to introduce you to the boss and then land has become a commodity, that's just before you submit plans to NEMA -10%, then another 10% for the local politician so he can keep away thugs. That's why investors shy away, unless it is something like IT.