Africa’s largest bank by assets, Standard Bank Group, has teamed up with its subsidiary Stanbic Bank in Kenya and signed a deal with Aeolus Kenya, to build a $150-million wind power plant in Kenya.

Aeolus Kenya is an independent power producer and a member of the Power Africa Initiative led by the United States President Barack Obama. The Power Africa Initiative is developing 1GW of wind, geothermal and gas fired power projects in the East African region.

AKL’s landmark project is the 60.8mw Kinangop Wind Park and it  is first in a strategic pipeline of projects. The plant will be the largest wind power generation farm in sub-Saharan Africa to date, outside South Africa.

“Kinangop Wind Park will add a further 60mw to Kenya’s 1,672mw national power grid, while the 60mw wind power plant will provide electricity to 150,000 Kenyan households,” reports Business Day.

As the lead arranger, Standard Bank will underwrite $90 million of the debt. Norway’s Norfund, a large Africa-focused international infrastructure investor, will provide $60 million in equity.

The plant is expected to open in mid-2015 and the Kenyan government will be the main buyer of the power produced. In fact. Aeolus Kenya has already inked a power purchase agreement with state utility Kenya Power. magnitude.