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SkyPower to build up to 4 GW of solar parks in Kenya, Bangladesh

Solar power station. Featured Image: worradirek/Shutterstock.com

September 28 (SeeNews) - SkyPower Global has committed to double its solar investments in Kenya to about USD 4 billion (EUR 3.58bn) and to also pour USD 4.3 billion into Bangladesh’s solar power sector.

As announced previously, the Canada-based company had agreed to develop 1 GW of photovoltaic (PV) projects in Kenya over the next five years for a total investment of USD 2.2 billion. It has now announced plans to double the sum and the capacity after the government enacted legislation promoting new investment and guaranteed power purchases from private operators.

Meanwhile in Bangladesh, SkyPower has unveiled its intentions to build a 2-GW solar power complex in the next four years, Bangladesh Sangbad Sangstha (BSS) reported over the weekend. The project will require a total investment of some USD 4.3 billion and will create jobs for 42,000 people. It also calls for SkyPower to set up an office in Tungipara.

The Canadian company already has a pipeline of utility-scale solar PV projects surpassing 25 GW of combined capacity, including 6 GW that will be developed in Egypt and Nigeria over the next five years.

(USD 1.0 = EUR 0.895)

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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