(Bloomberg) -- Vestas Wind Systems A/S sold its 12.5% stake in Lake Turkana Wind Power, Africa’s largest wind farm, to a fund managed by BlackRock Inc.

Vestas didn’t disclose the value of the deal, which was initially announced in March 2023. In total, BlackRock’s Climate Finance Partnership sought to buy 31.25% of the 310-megawatt facility located in northern Kenya from other shareholders including Finland’s development financier Finnfund and Denmark’s Investment Fund for Developing Countries known as IFU.

Vestas, which has had a stake in the project since 2014, will continue to service the turbines, each with a capacity of 850 kilowatts, it said in a statement Monday. 

The sale follows the company’s strategy of developing wind farms without being a long-term owner, Vestas said, adding it will have a “negligible impact” on its earnings or outlook. 

BlackRock started CFP with the governments of France, Germany and Japan, and some US organizations.

Read more: BlackRock Eyes Deal to Buy Into Biggest Africa Wind Power Farm

Clean technology generated about a quarter of Africa’s energy in 2022, but there are still 600 million people on the continent lacking access to electricity, according to a PwC report.

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