American company SkyPower, which has developed over 25,000MW of solar power projects worldwide, has signed a US$ 2.2bn deal with the Kenyan Ministry of Energy for the development of solar power in Kenya.
Kerry Adler, SkyPower president and CEO, said his company will develop world-class solar power in Kenya in four phases over the next five years.
“The solar power in Kenya project will include fabrication and assembly plants and ±US$ 173m will go towards educating, training, research and development,” Mr Adler said.
Kenya has become an African hub for innovation and entrepreneurship and will hugely benefit from deals signed with top world technology, energy and financial companies that attended the Global Entrepreneurship Summit inaugurated by US President Barack Obama in Nairobi.
During the summit, President Obama announced a US$100m fund to support women and youth entrepreneurs. Delegates from 120 countries attended the event which focused on generating new investments for entrepreneurs, with a particular focus on women and youth.
