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Radiant and Eldosol plants set to commence after consortium companies agrees financial deal.
Construction of two solar photovoltaic plants is set to kick-off after deal was agreed. The deal which is worth US$147m will diversify Kenya’s electricity supply away from both rain-dependent hydro and fossil fuels. It will also contribute to improving grid stability and cater for expected increased in energy use in the coming years.
According to the deal, European Investment Bank and FMO will provide US$53m for the two projects. While, project promoters Frontier Energy, DL Group of Companies chairman David Langat and Paramount Bank managing director Ayaz Merali will paid the rest amount.
The new Radiant and Eldosol plants will be build closed to the Eldoret which is 300km north-west of Nairobi. This two plants will use 300,000 panels that will track and harness the maximum amount of solar energy. As well as connect to Kenyan national energy grid.
European Union Ambassador Simon Mordue said “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 project will be amongst the first to generate utility-scale solar power in East Africa. It will also reduce Kenya’s dependence on hydro and fossil-fueled power generation.