UK, Kenya seal renewable energy MoU

renewable energyMARIA MACHARIA
NAIROBI, (CAJ News) – KENYA and the United Kingdom have signed A Memorandum of Understanding (MoU) to deepen cooperation on renewable energy.

The MoU will promote opportunities for private sector trade and investment by the UK in Kenya’s renewable energy sector.

As part of the MoU, UK Export Finance (UKEF) has also affirmed its interest in considering requests for export financing or insurance for eligible renewable energy projects in Kenya, drawing on a risk appetite of
up to at least £250 million (about Ksh 36 billion).

British High Commissioner to Kenya, Nic Hailey, said UK and Kenya were leaders in renewable energy, clean technology and innovation.

“Kenya has one of the most active renewable energy sectors in Africa, and the UK is a global leader in many of the sectors for which Kenya has greatest demand.”

He said the MoU brought expertise, development and export credit financing together with the aim of bringing clean, renewable energy to the Kenyan people and accelerating Kenya’s development and economic growth.

“UK firms are excited about the opportunities in Kenya and I’m confident this new MoU will lead to significant increases in UK investment in Kenya’s renewable energy”.

The document was signed on behalf of the respective Governments by Hailey and Cabinet Secretary of Treasury, Henry Rotich.

CAJ News

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