M a r k e t N e w s

Kenya woos investors in investors in the renewable energy sector

Posted on : Friday, 16th September 2016

 Kenya is eying investors in the renewable energy sector to help boost its electricity generation, a senior government official said Wednesday.

Joseph Njoroge, Principal Secretary for Energy and Petroleum said the government welcomes investors in the sector to help promote the generation of grid-connected electricity from wind, biomass, solar, biogas and geothermal.
“Currently Kenya’s off-grid and decentralized electricity market is estimated to comprise about 6.7 million households. The government plans that with the new entrants in the market, the country is set to expand the coverage,” Njoroge said.
Njoroge noted that mini grids and stand-alone systems like solar, hydro and wind power are viable as they are clean sources of energy.
He revealed that the government has put in place a Feed-in- Tariff Framework that gives investors roles in helping achieve sustainable energy for all in the country. A standardized Power Purchase Agreement (PPA) has also been established to mobilize project financing by private investors and guarantee investors of revenue collection.

Source : www.coastweek.com
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