KAM Gets Sh239 Million to Promote Green Energy - kenyadetails

KENYA Association of Manufacturers has obtained more funds from the French Development Agency(AFD) to finance technical and feasibility study assistance to investors eyeing renewable energy and energy efficiency projects.

This follows growing interest in this sector after it emerged that the first phase of a similar funding project attracted many proposals and successfully initiated projects which have so far been able to generate 22 megawatts in total.

KAM and AFD yesterday signed the €2.1 million (Sh239 million) deal given as part of the regional technical assistance programme funding which is part of a funding package that also extends loans to select banks in Kenya, Tanzania and Uganda for on-lending to investors working on projects in this sector.

In phase one of the project, Cooperative Bank got $39 million to lend to investors in the renewable energy business.