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Finnish firm in Sh1.4bn solar unit sale deal

Several companies have moved to take advantage of Kenya’s favourable climate to establish solar farms. FILE PHOTO | NMG
Several companies have moved to take advantage of Kenya’s favourable climate to establish solar farms. FILE PHOTO | NMG 

Finnish energy firm Nocart says it has signed an agreement to deliver a 10 megawatts (MW) grid-feed solar plant to an independent power producing company (IPP) in Kenya.

The managing director of Finland-based investment company Cleantech Invest Oyj, Alexander Lidgren, which owns 19.3 per cent stake in Nocart installation works, said the undisclosed firm will make a down payment under the deal valued at about Sh1.44 billion.

“We can’t tell the name yet, we have agreed it this way. Nocart has other projects in Kenya under discussions and Kenya is in heavy focus,” said Mr Lidgren in an emailed response.

Nocart said the project is scheduled to start immediately and first deliveries by will be six months after the down payment.  

“As I have said before, the opportunity for Nocart in Africa is huge and our pipeline has grown to euro 1.3 billion worth of projects. This new contract broadens our customer base and I cannot express how proud I am of the whole team at Nocart Oy for their tireless efforts,” said Nocart CEO Vesa Korhonen.

Several companies have moved to take advantage of Kenya’s favourable climate to establish solar farms that are expected to come on-stream in the next few years.

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