EIB in $147m Kenyan solar investment

Two major solar projects have been given the green light with the European Investment Bank (EIB) and Dutch bank FMO agreeing to finance construction and operation of new solar photovoltaic plants in Kenya.

The new Radiant and Eldosol projects are will diversify Kenya’s electricity supply away from hydro and fossil fuels, improving grid stability.

“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.

The scheme supports the Kenyan government’s national electrification strategy that aims to expand access to electricity to all citizens by 2022.

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