The new Radiant and Eldosol projects are amongst the first to generate utility-scale solar power in East Africa. The two schemes will diversify Kenya's electricity supply away from both rain-dependent hydro and fossil fuels, contribute to improving grid stability in Western Kenya and cater for expec Contact online >>
The new Radiant and Eldosol projects are amongst the first to generate utility-scale solar power in East Africa. The two schemes will diversify Kenya''s electricity supply away from both rain-dependent hydro and fossil fuels, contribute to improving grid stability in Western Kenya and cater for expected increased in energy use in the coming years.
"As world leaders meet in New York to discuss future plans to save our planet, Kenya with EU support, is leading the way with visionary climate action. These two new solar schemes funded by the European Investment Bank, Dutch Development Bank FMO and Frontier Energy from Denmark will provide clean energy for Kenya and demonstrate direct benefits of the close partnership between Kenya and the European Union." said European Union Ambassador, Simon Mordue.
Successful completion of non-recourse project financing for the two solar projects, commercial lending that based on project proceeds, demonstrates the strong investment potential for future development of renewable energy by the private sector in East Africa.
"Having worked closely with the national and county governments, as well as lenders EIB and FMO, we are proud to see these two landmark renewable energy projects take-off for the benefit of Kenyans." said Lars Jensen of Frontier Energy.
"What makes us even more proud is the level of community engagement that we have experienced where project benefits are shared firstly via local employment and secondly via support for projects identified by the community such as hospital equipment, improvement of local school facilities and boreholes." added David Langat.
Successful completion of project financing for the two solar projects demonstrates the strong investment potential for future development of renewable energy by the private sector in East Africa.
The Kenyan government''s national electrification strategy aims to expand access to electricity to all citizens by 2022. This includes enabling support from development partners and private sector investment to extend electricity networks and use of on and off grid solar standalone solar systems.
Opportunities to scale up deployment of off-grid solar essential to unlock energy access across Africa were outlined today by development finance partners ahead of the launch of a new study by the International Solar Alliance and European Investment Bank.
The European Investment Bank and the International Solar Alliance today published a new study outlining solutions to overcome key affordability and investment challenges holding back off-grid solar investment across Africa.
Temperatures in Nairobi, Kenya, reach 35 degrees centigrade in the summer months. Over five hundred kilometers away is the town of Malindi, where a brand new photovoltaic solar project is kicking off. If Kenyan engineers are looking to work in renewable energy, their chance has arrived.
The Malindi project will be the first utility-scale independent power project the country will see. Globeleq is a company hailing from the United Kingdom, and is heading up the project. They are also investing in renewable energy solutions in South Africa.
"The attractive investment climate combined with strong local community support sets the stage for this important project as well as future investments in Kenya. We are extremely pleased to be making this investment into the Kenyan energy sector."
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