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Stanley Tomchin - Invests in North Kenya's Lake Turkana Clean Power Project

LAS VEGAS, NV / ACCESSWIRE / March 8, 2017 / Kenya's single largest private investment, The Lake Turkana Wind Power Project is set to provide low cost wind power to the east African nation starting in July 2017. The plan is estimated to generate 310MW, approximately 18% of the country's current, installed electricity-generating capacity and to provide energy to more than 2.5 million Kenyans. Philanthropist Stanley Tomchin of the Tomchin Family Charitable Foundation is thrilled to support efforts of the project to bring clean and affordable electricity to Kenya and to provide long-term benefits to the country's economy.

The Lake Turkana Wind Power Project was initiated in 2014, receiving financing from numerous European investment banks, Standard Bank, the African Development Bank Group, Danish wind energy giant Vestas, and British Aldwych International Limited. As the most ambitious infrastructure development venture on the African continent, it has drawn the attention of renewable energy infrastructure investors such as Google, the Industrial Fund for Developing Countries, Norwegian Investment Fund for Developing Countries, Sandpiper Limited, and Stanley Tomchin's foundation among many others. The project is situated in the Loiyangalani district of Marsabit country, a remote and historically-marginalized region 600km north of the capital city of Nairobi. Currently, the region lacks access to basic electricity framework, with electricity being generated via diesel generators located in both public and private facilities. As part of the plan, the region will receive its first paved roads and will be connected for the first time in history to the Kenyan transmission grid, undoubtedly providing a boost to the local economy. This largest wind farm on the African continent will provide energy security and will help Kenya to curb 16 million tons of CO2 emissions, contributing to the country's commitment to cut carbon emissions 30% by 2030.

According to a report by the African Development Bank Group, Loiyangalani District welcomes the project as an opportunity to provide local employment and expansion of local infrastructure. Its draft Corporate Social Responsibility (CSR) plan, stipulates that local communities will benefit from assistance in the development of education and healthcare facilities with an aim to improving literacy and public health standards. The project will also provide stimulus to local businesses, especially trading centres situated along the upgraded road network, which will create an opportunity for transportation of local products to external markets. In addition, the Government of Kenya will receive portion of revenues generated from selling carbon credits and use it partially to fund the needs of local population.

Stanley Tomchin is a well-known philanthropist who has dedicated his time and energy over the past 20 years to contribute positively to communities-in-need on an international scale. The Tomchin Family Charitable Foundation has been a generous supporter of programs that promote education, arts, environmental causes, and youth empowerment. Retired professional games player, Mr. Tomchin supports various Nevada-based organizations and charities as well as international organizations such as Sea Shepherd Conservation Society and Greenpeace in their efforts to protect the environment.

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SOURCE: Stanley Tomchin