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May 18, 2016

Kenya signs renewable energy development deal with UK

A Memorandum of Understanding (MoU) has been signed between the UK and Kenya to enhance cooperation on renewable energy (RE).

By Lopamudra Roy

man

A Memorandum of Understanding (MoU) has been signed between the UK and Kenya to enhance cooperation on renewable energy (RE).

This is expected to generate enhanced opportunities for the UK’s private sector trade and investment in Kenyan industry.

British high commissioner Nic Hailey said: "The UK and Kenya are leaders in renewable energy, clean technology, and innovation.

"Kenya has one of the most active RE sectors in Africa and the UK is a global leader in many of the sectors where Kenya has greatest demand."

The deal has been signed by Nic Hailey and cabinet secretary of treasury Henry Rotich.

"This MoU brings UK expertise, development, and export credit financing to bring clean, renewable energy to the Kenyan people."

Hailey added: "This MoU brings UK expertise, development, and export credit financing together with the aim of bringing clean, renewable energy to the Kenyan people and accelerating its development and economic growth.

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"UK firms are excited about the opportunities and I am confident this new MoU will lead to significant increases in UK investment in Kenya’s renewable energy".

Under the terms of the deal, the UK Export Finance (UKEF) also intends to provide either financing or insurance for eligible renewable energy projects in the African country.


Image: British High Commissioner to Kenya Nic Hailey. Photo: courtesy of Gov.UK.

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