SkyPower signs $2.2B deal for Kenya solar projects

Investment in 1 GW of projects includes 200 MW of fabrication and assembly facilities.

July 28, 2015

NAIROBI, Kenya — SkyPower, a global developer and owner of utility-scale solar photovoltaic energy projects, has signed a $2.2 billion agreement with the Kenyan Ministry of Energy and Petroleum for the development of solar projects totalling 1 gigawatt.

The projects will be built in four phases over the next five years.

The agreement was signed in Nairobi at the sixth annual Global Entrepreneurship Summit (GES).

“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…,” said SkyPower president and CEO Kerry Adler.

The company, with its global hub based in Montreal, said investment will create more than 25,000 total job years in Kenya and includes 200 megawatts of fabrication and assembly facilities, as well as a commitment of US $173 million for education, training, and research and development.

SkyPower is majority owned by the CIM Group, an investment firm headquartered in Los Angeles.

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