Atlanta, GA— US Based solar energy solutions company ‘Renewvia Energy’ has announced that it will be conducting a feasibility study for the development of solar microgrids in key geographies in Kenya funded by a grant from the US Trade and Development Agency (USTDA) as part of President Obama’s Power Africa initiative.
Last week on 21st September during the US Africa Business Forum held in New York, Trey Jarrard, CEO of Renewvia, signed the cost share agreement and he later participated as a panelist for “Climate Week Conversation: Unlocking Clean Energy Investment in Sub-Saharan Africa,” an event that brought together CEOs from African clean energy companies to discuss how project preparation assistance can help unlock investment in clean energy across Africa.
In addition to providing the data and analysis necessary to complete the feasibility study, Renewvia says it will leverage its success of developing solar and microgrid projects on four continents to secure implementation financing for the development of up to 50 megawatts of solar microgrids in Kenya over the next five years.
The company is currently in discussions with institutional capital sources to explore conventional financing structures for this new unsecured prepaid individual subscriber model. According to the management, the total market potential for Kenya and Sub-Saharan Africa solar rural electrification is immense and exciting at every level.
“Renewvia is delighted to have the opportunity to extend our solar microgrid development in Kenya,” said Jarrard. “For the first time hundreds of rural Kenyan citizens are receiving power at a rate that is commensurate with off-grid generation without being responsible for maintaining power equipment.”
“Solar photovoltaic (PV) microgrids are making the dream of rural electrification a reality, and we are enthusiastic about providing this life-changing technology to areas of critical need in Kenya and beyond,” said Pam Onyanyo, Director of Sub-Saharan Africa for Renewvia.
