Canadian solar firm SkyPower has announced plans to invest US$ 4.4bn in a bid to boost solar market in Kenya over the next five years.
The funds will be used in the installation of 1GW of solar power capacity in the country and distribute 2 million home solar power kits as well as install more than 3,000 solar-powered street lamps. It will also construct a fabrication and assembly facilities in the country. The solar plants will be installed in four phases over the next five years.
The international solar firm has said it will double their initial commitment that they made in July this year when they met with president Uhuru Kenyatta.
Kerry Adler, SkyPower’s president and chief executive confirmed the plans to boost solar market in Kenya adding that the countryCanadian firm SkyPower to boost solar energy market in Kenya has become an African hub for innovation and entrepreneurship, and they are proud to add on to the unprecedented milestone in Kenya’s ambitious renewable energy plan.
“SkyPower’s solar projects will help Kenya realize its electrification goals, support the development of the country’s renewable energy industry and help the development of strong communities, generating a brighter future for all,” said Mr. Adler.
“We are very pleased to work with a world-leader in solar energy like SkyPower,” said Henry Rotich, Cabinet Secretary of the Kenyan Ministry of Energy and Petroleum.
SkyPower is the largest and one of the most successful developers and owners of utility-scale solar photovoltaic (PV) energy projects in the world. With roots dating back to over a decade, SkyPower’s global team possesses a vast track record of over 800 years of combined experience in power and large infrastructure projects.
It is majorly owned by US-based fund manager CIM and has more than 25GW of solar power projects built or under development worldwide.