A United States-based power company with operations in Kenya has launched a rooftop solar project at Juja City Mall.
Centennial Generating Company Limited said the project, its eighteenth renewable energy project, will lower power costs for small businesses at the mall while improving the predictability of power supply and lowering the environmental footprint of their operations.
Centennial, is dedicated to financing solar and battery storage projects for small and medium-sized enterprises (SMEs).
“We are excited for Juja City Mall to be our first investment under Centennial’s new C9 Fund and for the company to join the community of the many commercial and industrial businesses across several countries on the African continent that has partnered with Centennial over nearly a decade,” said Mr David John Frenkil, the founder and managing director of Centennial.
Juja City Mall will not incur any capital expenses because the project is fully financed through Centennial’s C9 Fund.
“Our management welcomes this project because every kilowatt-hour generated from the solar project is building new equity for our company, as ownership of the solar project will be transferred from C9 Fund to Juja City Mall at the end of the contract’s term,” said Mr James Gachiri the managing director of Juja City Mall.
Mr Gachiri added that the project would help them meet their sustainability goals.
“With Centennial’s solar project, Juja City Mall’s power supply is now an investment, not a sunk cost,” said Mr Gachiri.
C9 Fund’s upcoming projects include SMEs working across numerous sectors, including manufacturing, healthcare, logistics, commercial real estate, hospitality and education.
Juja City Mall is a multi-use facility, 220,000 square feet comprising an 80-room hotel, a school, and medical facilities, located just 20 minutes from Nairobi’s city centre.
The mall houses businesses such as Naivas Supermarket, Total, and Bata among others.
