- Kenya has began a project to start the first hybrid power plant in Africa which would cost an estimated $145 million
- The project was started as a result of the efforts of the Kenya Investment Authority (KenInvest) the Meru County Government and global renewable energy developers, Windlab
- When complete, the plant is expected to produce80MW of power to serve over 200,000 households.
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YEN.com.gh has learned that Kenya has started work on Africa’s first hybrid power plant which costs $145 million.
Information available shows that the project is the result of the combined efforts of the Kenya Investment Authority (KenInvest) the Meru County Government and global renewable energy developers, Windlab.
Described as ‘the Meru County Energy Park’, the project is expected to be a large scale facility that combines wind, solar PV and battery storage.
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When completed, the plant is expected to produce a total of 80MW of power to serve over 200,000 households.
It is also expected to have 20 wind turbines and over 40,000 solar panels, Business Insider reports.
In other news, year in, year out, entrepreneurs start businesses with the motive of creating enterprises for the purpose of making profit, as well as other benefits.
In the year 2019, three African startups, Partech Ventures, WeeTracker and Briter Bridges, all received funding to the tune of over $1 billion.
Information available shows that such businesses, especially those from Nigeria and Kenya, continue to rise.
Per a report by qz.com, the arrival of the Chinese into African businesses changed the game for some of the startups.
Funding comes in several types and the differences rest with the methodology which is adopted by the research teams.
As the appetite for investors with respect to African startups grows by the day, new players are opening their purses to fund such enterprises.
In the year 2019, over 20 Africa-focused funders set up shop. In the second half of the same year, Chinese investors in Africa’s tech space pumped around $400 million and it has been speculated that the amount could shoot up to about $1 billion.
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