Two brand new utility-scale solar power plants must be built in Kenya at a deal worth $253 million.
The European Investment Bank (EIB) and the Dutch Entrepreneurial Development Bank (FMO) are supplying $53 million (#43m) each and the rest $147 million (#119m) will be spent by programmer Frontier Energy, DL Group of Companies and Paramount Bank.
The Eldosol solar farms, being built close to Eldoret City from the North Western area of Kenya, will have a entire capacity of 80MW and include 300,000 solar panels.
The jobs, expected to help reduce carbon emissions by 106,000 tonnes annually, will diversify Kenya’s electricity supply from the fossil fuels and rain-dependent hydropower and contribute to enhancing grid stability.
They may also encourage the Kenyan Government’s nationwide electrification strategy, which aims to extend access to electricity for all citizens by 2022.
Catherine Collin, European Investment Bank Regional Representative for East Africa stated:”Growing renewable energy is essential to allow all Kenyans to access electricity.
“Successful fiscal close of the project demonstrates the near co-operation of authorities, development partners and private business investment and our shared goal of supporting federal electrification. The Eldosol solar projects reveal how visionary energy expenditure can accelerate social, human and economic development and reveal how Kenya is taking advantage of its renewable resources as a worldwide pioneer in clean energy generation”
