M a r k e t N e w s

France invests $37m in Kenyan power developments

Posted on : Monday, 8th August 2016

 On Monday, Kenya entered into an agreement with France for a sum of $37 million to facilitate the development of the east African country’s power sector through renewable power mini-grids.

The French embassy in Kenya said in a statement: “This 33 million euro [$37 million] financing will support the installation of renewable energy generation units (primarily solar photovoltaic [PV], but also in some cases wind turbines) in 23 mini-grids currently powered by diesel generators.”
Kenya and France to drive power developments
The agreement was signed by National Treasury Cabinet Secretary, Henry Roticih, and Bruno DePrince, regional director for East Africa of the French Development Agency (AFD), in the presence of Kenya’s President Uhuru Kenyatta and French Foreign Minister Jean-Marc Ayrault.
The World Bulletin reported that the deal will be implemented by Kenya's power and lighting company, Kenya Power, and it will see 9.5MW additional power voltage added to semi-arid northern counties in Kenya.
According to the French Embassy in Kenya, the expansion project is expected to reduce the average cost of electricity production of mini-grids by an average of 20%, improve the security of Kenya’s energy supply, support economic development by promoting more reliable electricity service, and reduce greenhouse gas emissions associated with the combustion of diesel immensely, the World Bulletin reported.
Ayrault said: “The signing of this financing agreement shows that significant resources are indeed being made available to the states, parastatals and the private sector to support climate-friendly projects.”
Kenyatta said: “We need a strong regional position that will be supported by the international community to guarantee peace in South Sudan.
"There is a need to do more to stabilise Somalia. This is not the time for our partners to withdraw support."

Source : www.esi-africa.com
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