June 1 (Renewables Now) - Kenergy Renewables has signed a power purchase agreement (PPA) with state-run distributor Kenya Power for the output of a 40-MW solar project, Reuters said on Thursday, quoting Kenergy’s head.
CEO Khilna Dodhia told the news agency that the 20-year deal will see Kenergy sell power at USD 0.08 per kWh. However, the firm still needs a letter of support from the government of Kenya in order to secure bank financing, Dodhia was cited as saying.
So far, the company has spent over USD 2 million (EUR 1.7m) in the early stages of developing the Rumuruti solar project in Laikipia County, she has said, noting that typically a project of that size would cost between USD 60 million and USD 70 million.
(USD 1.0 = EUR 0.856)