UK & Kenya Sign MoU For Renewable Energy Cooperation

The UK government has signed a Memorandum of Understanding (MoU) Kenya to strengthen cooperation in the renewable energy sector.

According to UK press information, the MoU is intended to  “…promote opportunities for private sector trade and investment by the UK in Kenya’s renewable energy sector.” The document was signed on behalf of the respective Governments by British High Commissioner Nic Hailey and Cabinet Secretary of Treasury Hon. Henry Rotich.

As part of the MoU, UK Export Finance (UKEF) has also affirmed its interest in considering requests for export financing or insurance for eligible renewable energy projects in Kenya, drawing on a risk appetite of up to at least £250m (approx. Ksh 36b).

Kenya & UK flags shutterstock_96565834

Mr. Hailey said, “Kenya has one of the most active renewable energy sectors in Africa, and the UK is a global leader in many of the sectors for which Kenya has greatest demand.”

 

Under the terms of the MoU, UK will provide expertise, development and export credit financing in order to bring clean, renewable energy to Kenya while contributing to economic growth.

Kenya has targeted increasing its installed electricity generation capacity to 19,200 MW by 2030 in order to meet its growing electricity demand. Other positive outcomes are anticipated following this MoU.

“The MoU will promote opportunities for private sector trade and investment by the UK in Kenya’s renewable energy sector. As part of the MoU, UK Export Finance (UKEF) has also affirmed its interest in considering requests for export financing or insurance for eligible renewable energy projects in Kenya, drawing on a risk appetite of up to at least £250m (approx. Ksh 36b).”

Following the signature at Treasury, Mr. Hailey said, “The UK and Kenya are leaders in renewable energy, clean technology and innovation. Kenya has one of the most active renewable energy sectors in Africa, and the UK is a global leader in many of the sectors for which Kenya has greatest demand.”

Image: Kenya and UK flags via Sutterstock









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