Kenya
Sector
Energy
Environment & Waste
Utilities
A 2007 World Bank report said Kenya has annual solar energy resources equivalent to the discovery of roughly 70 million tons of oil. The country already sells about 30 000 solar photovoltaic (PV) systems each year. The industry is thriving, making the country one of the best examples of where solar energy technology has taken off in sub-Saharan Africa. But further investment is required especially in manufacturing of PV panels.
Investment Opportunity
A preliminary survey done in 2005 established that the annual market for photo voltaic (PV) panels was 500 kilowatt peak (kWp) and this was projected to grow at 15% annually. A government program, which commenced in 2005 to provide basic electricity to boarding schools and health facilities in remote areas has increased the annual demand for PV panels. Out of approximately 3 000 eligible institutions, 133 have been equipped with PV systems with a combined capacity of 399 kWp in the last four years. Another 46 institutions are earmarked to benefit from installation of PV systems with a combined estimated capacity of 80 kWp. There is also the wider market provided by the other member states of the East African Community and COMESA. It is estimated that the initial market demand for PV systems is one megawatt peak and this presents a great opportunity to investors involved in the manufacturing of PV panels. Opportunities also exist to manufacture associated components and accessories, such as charge controllers, inverters and PV batteries. Northern Kenya and other arid areas have strong reliable sunshine throughout the year thus providing high potential for investment in solar energy for sale to the national grid. Almost the whole of North Eastern Province has this potential.
Contact Details Investors interested in this opportunity should contact the Kenya Investment Authority at info@investmentkenya.com
