Funds Flowing in for Solar Projects

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Enterprise Television- Funds Flowing in for Solar Projects

Kenya will this year benefit from multiple financial instruments for the expansion of solar use in a push to support green living projects and energy-efficient buildings.

The European Investment Bank (EIB), announced last week that it would give a Sh7.5 billion loan this year for the construction of two solar power plants, underlining the growing interest by global organisations to finance local green projects.

Meanwhile, solar energy systems maker Orb Energy on January 18 announced $1million (Sh103million) in financing as part of the efforts to promote the expansion of renewable energy in Kenya.

The Rural Electrification Authority (REA) Chairman Simon Gicharu, said the mini grids would lead to an increase in solar pumping systems to provide water for drinking and irrigation in 14 underserved counties in northern and north-eastern Kenya.

This however,has made it mandatory for households and institutions that use more than 100 litres of hot water a day to install solar water heaters.