The Kenyan government launched a $47 million financing facility for the deployment of renewable energy. The facility, set up under the Kenya off-grid solar access project (KOSAP), will allow the mobilization of private financing for off-grid solar energy solutions and ecological fuel solutions for cooking.
It will benefit projects targeting 1.1 million people in 14 marginalized counties.
This debt facility and results-based financing was implemented with the support of the World Bank. It will be managed by the Kenyan Ministry of Energy through the Kenya Power and Lighting Company and the Rural Electrification and Renewable Energy Corporation.
“The country is making significant efforts to achieve 75% access to electricity nationally by connecting more households to the grid and using off-grid solutions. However, access to electricity is very low in these 14 marginalized counties that account for 72% of the national area and home to 20% of the population. Their dispersion makes off-grid solutions, the best way to give them access to electricity,” said Joseph Njoroge, the chief secretary of the Kenyan Ministry of Energy.