SkyPower Announces 1 GW, $2.2 Billion Solar Deal With Kenya
Last Friday, North America’s SkyPower announced that it would be signing a solar deal with Kenya for a 1 gigawatt (1,000 megawatt), $2.2 billion development project.
SkyPower released a media advisory last Friday, which announced that the self-proclaimed “world’s largest developer and owner of utility-scale PV energy projects” was expecting to sign a “landmark agreement” with the Kenyan Ministry of Energy and Petroleum, which would pave the way for the development of a series of 1 GW “world-class” solar projects in Kenya over the next five years.
The deal is expected to amount to $2.2 billion, and was to be signed in Nairobi at the Global Entrepreneurship Summit.
There had been little news after the announcement of an announcement, with no official updates from SkyPower. However, the media ran with the story over the weekend, thanks in part to US President Barack Obama’s presence at the Summit.
Yesterday, SkyPower put out a release confirming that the deal was signed, and that the project would be built in 4 phases over the coming 5 years.
“SkyPower’s US $2.2 billion investment will create more than 25,000 total job years in Kenya and includes 200 MW of fabrication and assembly facilities, as well as a commitment of US $173 million toward education, training, and research and development,” said SkyPower Executive Vice President Charles Cohen, by way of EnergyTrend.
The news comes following several similar announcements by SkyPower for development of solar projects in emerging nations. Earlier this month, SkyPower announced a 150 MW collection of solar power projects it intends to develop in India, in the central state of Madhya Pradesh. The company offered a record-low bid for the country.
Meanwhile, in March of this year, SkyPower announced another “landmark agreement,” this time with Egypt, for 3,000 MW of utility-scale solar PV projects to be built over the next 4 years.
“The monumental US $2.2 billion agreement was signed in Nairobi, Kenya at the sixth annual Global Entrepreneurship Summit (GES),” SkyPower writes. “GES 2015 hosted an unprecedented convention of high-level leaders from around the globe, including U.S. President Barack Obama and H.E. Uhuru Kenyatta, President of the Republic of Kenya. SkyPower proudly sponsored the summit as an official Solar Energy Partner.”
“Kenya has become an African hub for innovation and entrepreneurship, and SkyPower is proud to contribute to this unprecedented milestone in Kenya’s ambitious renewable energy plan,” said SkyPower President and Chief Executive Officer Kerry Adler. “SkyPower’s solar projects will help Kenya realize its electrification goals, support the development of the country’s renewable energy industry and help the development of strong communities, generating a brighter future for all.”