SkyPower Signs US $2.2 Billion Agreement to Develop and Build 1 GW of Solar Energy Projects in Kenya
NAIROBI, Kenya, July 27, 2015 /CNW/ – SkyPower, the world’s largest developer and owner of utility-scale solar photovoltaic (PV) energy projects, signed a landmark agreement with the Kenyan Ministry of Energy and Petroleum for the development of 1 GW of world-class solar projects to be built in four phases in Kenya over the next five years.
The monumental US $2.2 billion agreement was signed in Nairobi, Kenya at the sixth annual Global Entrepreneurship Summit (GES). Initiated by the U.S. government in 2010, the conference gathers entrepreneurs at all stages of business development, business leaders, mentors and high-level government officials to help increase support for innovators and job creators around the world.
GE and Partners Announce New Renewable Energy Project to Boost Kenya's Power Grid
Project follows a successful run of more than $2.5 billion worth of booked orders across Africa in the last year
- 100MW wind farm near Nairobi will contribute to installed energy capacity in Kenya
- $2.5 billion in new orders serve transport, aviation, healthcare and energy sectors
- Deal lands as GE makes substantial progress on its 2014 commitment to invest $2 billion in Africa by 2018
Read more: GE and Partners Announce New Renewable Energy Project to Boost Kenya's Power Grid
Lamu, Malindi to host the 1000MW solar power plant
A planned Sh220 billion investment in solar power will be spread across various counties in Kenya.
The solar power plant, which will be developed in four phases over the next four years, will be hosted in sites such as Lamu, Malindi, Kajiado, Kisumu, Kakamega and Baringo.
This follows Sunday's signing of an agreement between the ministry of energy, represented by Principal Secretary Joseph Njoroge, and SkyPower President and Chief Executive Kerry Adler to construct 1,000MW solar plants in different parts of the country.
Read more: Lamu, Malindi to host the 1000MW solar power plant
Kenya's Green Energy Output Doubled in 2014 - Report
Kenya has outpaced its African peers in renewable energy production, and has been ranked top five globally in geothermal energy investments.
A renewables global status report 2015 shows Kenya increased its green energy output by 358 megawatts, doubling its stock to about 600 megawatts last year.
"Many developing countries are under pressure to rapidly increase energy generation capacities to address growing demand, to meet energy access challenges, and to foster economic development," the 251-page report states.
Read more: Kenya's Green Energy Output Doubled in 2014 - Report
