Skypower’s Kerry Adler shakes hands with Kenyan president Uhuru Kenyatta in July (SkyPower)

SkyPower to invest $4.4bn in Kenyan solar market over next five years

29 September 2015 | By GCR Staff 0 Comments

SkyPower, the Canadian solar developer, has said it will invest $4.4bn in Kenya’s energy market, doubling the commitment it made in July.

“Kenya has become an African hub for innovation and entrepreneurship, and SkyPower is proud to contribute to this unprecedented milestone in Kenya’s ambitious renewable energy plan”– Kerry Adler, SkyPower president

As well as installing 1GW of solar power capacity in the country, the company will distribute 2 million home solar power kits and install more than 3,000 solar-powered street lamps. The solar plants will be installed in four phases over the next five years.

The announcement was made after a meeting between SkyPower executives and Uhuru Kenyatta, the president of Kenya.

Kerry Adler, SkyPower’s president and chief executive, said after the July meeting: “Kenya has become an African hub for innovation and entrepreneurship, and SkyPower is proud to contribute to this unprecedented milestone in Kenya’s ambitious renewable energy plan.

“SkyPower’s solar projects will help Kenya realize its electrification goals, support the development of the country’s renewable energy industry and help the development of strong communities, generating a brighter future for all.”

“We are very pleased to work with a world-leader in solar energy like SkyPower,” said Henry Rotich, Cabinet Secretary of the Kenyan Ministry of Energy and Petroleum.

“Sustainable electrification is a central policy issue in Kenya, and we are committed to making this a reality for our citizens, while accelerating economic growth in the process.”

In April, SkyPower signed an agreement with Abu Dhabi conglomerate Al Hamed Enterprises to set up 3GW of solar power capacity in Egypt over the next four years.

The agreement will involve investment of $5bn, resulting in the creation of 75,000 jobs. SkyPower will also set up a fabrication and assembly facilities in the country.

In July, SkyPower was awarded 350MW of solar photovoltaic (PV) project in India. The company won the contracts in competitive auctions after bidding 8 cents per kilowatt hour, the lowest ever offered in the country.

SkyPower, which is majority-owned by US-based fund manager CIM, has more than 25GW of solar power projects built or under development worldwide.

Some 8GW of these projects were recently announced in bilateral agreements. As well as the Kenyan and Egyptian programme, it has agreements to build PV plants in Nigeria and India.

Image: Skypower’s Kerry Adler shakes hands with Kenyan president Uhuru Kenyatta in July (SkyPower)