Indian conglomerate Adani Energy Solutions, led by billionaire Gautam Adani, and Africa50 have committed to a substantial investment of $1.22 billion (Sh158.24 billion).
This development, announced by Kenya's National Treasury, shows a step in addressing the country's aging and unreliable electricity grid.
Major investment to modernize Kenya's power gridThe investment will focus on the construction of new power transmission lines and substations under a Public-Private Partnership (PPP) model. This collaboration aims to revitalize Kenya's electricity infrastructure, which has long been plagued by frequent outages and inefficiencies. The National Treasury has approved the deals with both Adani Energy Solutions and Africa50 and is currently negotiating the terms of the projects.
Adani Energy Solutions is a key player in the global energy sector, known for its expertise in power generation and transmission. The company's involvement highlights its commitment to expanding its footprint in Africa and contributing to the continent's infrastructure development. Africa50, an investment platform established by African governments and the African Development Bank, brings additional financial and technical resources. This ensures the project's success.
