EIB to finance 80 MW solar PV plants in Kenya

The project involves the construction of two 40 MW net output solar photovoltaic (PV) power plants near Eldoret, Western Kenya. The projects are being developed as independent power producers (IPPs) under the feed-in tariff regime in Kenya. The two projects will have shared facilities and services and will supply electricity to the national grid. The projects require an approximated total investment of USD148 million. 

The proposed operation is in line with the strategic objectives set for the Bank's external mandates in general (environmental sustainability, climate change mitigation), the Cotonou Agreement - in particular Article 21 concerning investment - and private sector development. The operation will also contribute to the European Investment Bank's priority energy lending objectives related to renewable energy.

Environmental and social impact assessments (ESIAs) have been prepared for the two PV plants and have been submitted to the competent authority NEMA (National Environmental Management Authority) for approval. Compliance with the environmental and social standards of the EIB including, amongst others, the principles of relevant EU directives will be verified during appraisal.

The Bank will require the promoters to ensure that project implementation will carried out in accordance with the Bank's Guide to Procurement.

The Radiant project, wih a total capacity of 40 MW, is located near Eldoret town in Uasin Gishu county. Eldosol comprises 140,800 photovoltaic modules as well as a medium voltage step-up transformer (400V – 22kV). The anticipated annual electricity generation is 74,968,000 MWh.