Kenya is planning on expanding its solar power capacity by building two utility scale projects, The Radiant and Eldosol. The two projects will supply green electricity to about 300,000 of Kenyan homes when complete. The solar plants will be set up near Eldoret.
According to the European Investment Bank, the two power plants will have a combined capacity of 80 megawatts and will cost $147 million. The plants will be co-funded by the European Investment Bank and the Nederlandese Dutch Bank FMO NV, Paramount Bank. The project developer will be Frontier Energy, a Danish developer.
The European Investment Bank and FMO NV will each loan the solar project $53 million and the rest of the partners will fund the remaining amount.
Utility scale solar refers to the large scale electricity production through a photovoltaic power station and concentrated solar power. The solar plants aim to reduce Kenya’s dependence on hydro and fossil fueled power generation.
The growth of utility-scale power generation will completely reshape Kenya’s energy economy for the better with cost-effective and cleaner power. Unlike hydro and fossil-fueled power generation, utility scale solar energy provide a lower cost of power with consistent prices. The plants can provide between ten to thirty years of affordable energy.
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