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The cost of construction was budgeted at US$78 million (approx.€70 million). [3] In 2018 the European Investment Bank approved a loan of €30 million (US$37.5 million) towards the construction of this power station. The developer/owners will raise the difference of €40 million (approximately US$45 million).
The three investors in the project formed a special purpose vehicle company to develop, construct, and operate the solar power station. The SPV company is called Rumuruti Solar Generation Holding. The SPV company is registered in the United Kingdom. The ownership of the SPV company is as illustrated in the table below: [1] [6]
Radiant Solar Power Station is a 40 megawatts (54,000 hp) solar power plant in Kenya. [1] ... The cost of construction was budgeted at US€70 million (approx. KSh7 ...
It is anticipated that construction will commence in H2 2024, last 28 months and conclude in H2 2026. [1] In January 2024, KenGen solicited bids from qualified companies and consortia to provide consulting services for the "supervision and management of the 42.5MW" solar power plant.
Kenya has one of the highest household solar ownership rate in the world. [27] More Kenyans are turning to solar power due to relatively high connectivity costs to the grid and the abundance of solar power in Kenya. [28] Solar photovoltaic systems are particularly prevalent among rural households with limited access to grid electricity. [27]
The solar park sells electricity wholesale to Kenya Power at Sh5.49 per unit. [6] The power purchase agreement, signed in September 2016, calls for Kenya Power to sell electricity from the solar plant at KSh12 (US$0.12) per kilowatt hour, approximately KSh8 cheaper than diesel-generated electricity. [1]
The first phase of the power station is 100 kilowatts (134 hp), and was built at a cost of KSh17 million (approx. US$167,000). The French solar panel manufacturer Urbasolar, supplied the solar panels with funding assistance from the government of France. The completed 10MW power station is budgeted at KSh1.7 billion (approx. US$16.7 million). [1]
The Kingdom of Morocco’s solar plan, which is one of the world’s largest solar energy projects and estimated to cost about $9 billion, was introduced in November 2009 with the aim of establishing 2,000 MW of solar power by 2020.