In 2006 and the years thereafter, the KP&P consortium was formed, with the initiators and other Dutch and Kenyan companies and individuals. KP&P provided the early stage development capital for the Lake Turkana Wind Power project and started to investigate the wind resource at Lake Turkana. KP&P installed the first of in total ten wind measurement masts and appointed DEWI (Germany) to carry out wind assessment studies. As the first promising results from the wind measurements came in, the decision was taken to carry out a full feasibility study on the project and to start negotiations with KPLC. These negotiations culminated in the first wind power purchase agreement (PPA) in Sub-Saharan Africa in December 2009.
In 2010, KP&P entered into an equity agreement with Aldwych. In 2011, this initial agreement was followed by the entry of Vestas, Norfund and the Investment Fund for Developing Countries (IFU) in the equity group. FinnFund and Sandpiper followed suit in 2013.
After 8 years of development, the project reached Financial Close in December 2014. Financiers involved in the financing of the project include African Development Bank, NedBank, Standard Bank, European Investment Bank, Entrepreneurial development bank (FMO), German development and investment company (DEG), Proparco, Interact Climate Change Facility (ICCF) and Triodos Bank.