US$ 10.8m agreement signed for renewable energy projects in Kenya

Chase Bank and the French Development Agency have signed a US$ 10.8m loan to finance renewable energy projects in Kenya.

Chase Bank Chief Executive Paul Njaga confirmed the reports and said that the money will be lent to businesses that want to invest in renewable energy technologies projects such as small hydro, biomass, biogas, solar, geothermal and other energy efficient measures.

“This is a 12-year facility and will therefore address long term funding requirements in energy projects. The total committed amount is US$ 10.8m of which some amount will be available immediately for lending,” he said.

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Amu Power confirms construction of coal fired power plant in Kenya

A consortium that is tasked with the construction of a coal fired power plant in Kenya Amu power, has confirmed that the building of the plant in Lamu will commence next year in January.

Amu Power is a company formed by a consortium of Centum and Gulf Energy.

The community liaison officer for Amu power Aboud Sheikhalifa confirmed the reports and said that all plans are set and ready for construction to begin.

“The construction is slated to begin on January 15, 2016 and all the plans are in place to make sure that everything goes on as scheduled,” said Mr. Sheikhalifa.

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Construction of the Kenya-Ethiopia converter substation to commence

Kenya Electricity Transmission Company (KETRACO) has announced that the construction of US$ 230m high voltage direct current Kenya-Ethiopia converter substation is now set to begin.

A US$ 230m contract between KETRACO and a consortium of Siemens AG and Isolux Inginieria for the construction of the sub-station has already been signed.

The project which will be constructed in Suswa is intended to create power lines that will link Kenya to Ethiopia. It is being funded by the World Bank and is considered as an important interconnector between the two countries.

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Kenya bets on solar power to bridge supply gap

The government is banking on solar power plants to bridge the electricity supply gap as it races to meet its target of increasing generation capacity by 5,000 megawatts by the end of next year.

Energy and Petroleum Principal Secretary Joseph Njoroge last week said he energy ministry is currently evaluating “numerous” proposals from investors to set up solar plants around the country before they strike power-purchase deals with Kenya Power.

“We have always preferred to use the least cost sources of electricity. However, the uptake of solar locally has been slowed by research to reduce the rates at which this form of energy is fed to the national grid,” said Mr Njoroge.

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