Kenya’s renewable energy sector has attracted a bunch of Chinese investors, looking at the fact that Chinese energy companies are planning to invest billions of shillings in the sector.
According to Africa Policy Institute President, Peter Kagwanja, the Chinese investment is part of the six trillion shillings Belt and Road Fund established by China last year to help expand African infrastructural capacity.
The Belt and Road Initiative (BRI), launched in 2013 by Chinese president Xi Jinping, includes hundreds of infrastructure projects financed and constructed in part or in whole by Chinese entities in lands far beyond China’s borders. Projects include ports, airports, rail lines, utilities, industrial centers, highways, and even entire new cities and urban sectors.
Additionally, President Uhuru Kenyatta recently launched a 50MW solar plant farm in Garissa.
Speaking during the China-Africa energy cooperation summit, Kagwanja backed Nairobi-Beijing partnership to expand renewable energy mix.
The areas targeted for investment include wind, solar and nuclear energy where China has become a global leader.