Radiant and Eldosol solar projects in Kenya reach financial close

FMO and the European Investment Bank (EIB) have agreed to finance construction and operation of two new solar photovoltaic plants in Kenya. EIB and FMO will each provide US$53 million for the two projects, with the remainder of the US$147 million total project cost provided by the project promoters Frontier Energy, David Langat, Chairman of the DL Group of Companies and Ayaz Merali, Managing Director of Paramount Bank.

The new Radiant and Eldosol plants are being built close to Eldoret, 300km north-west of Nairobi. The two adjacent sites will use 300,000 panels that track to harness the maximum amount of solar energy and will be connected to the Kenyan national energy grid.