The UK and Kenya have signed a Memorandum of Understanding (MoU) to increase co-operation on renewable energy.
According to the British High Commission in Nairobi, it will promote opportunities for private sector trade and investment by the UK in the Kenyan green energy sector.
The MoU was signed on behalf of the respective governments by British High Commissioner Nic Hailey and Kenya’s Cabinet Secretary of Treasury Henry Rotich.
As part of the agreement, UK Export Finance (UKEF), the nation’s export credit agency, has also affirmed its interest in considering requests for export financing or insurance for eligible renewable projects in Kenya, “drawing on a rick appetite of up to at least £250 million.
Mr Hailey said: “The UK and Kenya are 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.
“This MoU brings UK 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.”