$35m of debt to develop, construct and operate 40MW greenfield solar plant in Kesses, Kenya.
Direct impact on people
7.1 + 7.2 – Access to affordable and reliable renewable energy.
65k consumers are expected to benefit. The largest impact will be felt by users that consume the most power.
Direct impact on planet
13 – Avoid and reduce greenhouse gas emissions.
Avoid 31k tCO2e per year.
8.5 – Achieve full and productive employment.
Large number of businesses are expected to benefit which will in turn create indirect jobs in the economy.
Challenge: Kenya has an extensive plan to deploy more intermittent renewables (wind and solar) to meet its net zero targets alongside seasonal hydro and geothermal.
Channel: Demonstrate viability of one of the first solar projects as part of the energy mix.
Outcome: Replication by other investors leading to more diversified energy mix and improved resilience of the sector.
Mobilised $63.46m from the private sector – 75% foreign investors and 25% domestic investors.
Transition: Paris aligned.
Physical: Risks considered and where possible mitigated.