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Kenya: Financial Scheme Attached to Solar Obligation

Submitted by Baerbel Epp on April 28, 2015
Solimpexs AfricaKenya is the frontrunner in solar obligations in Africa. The government of the East-African country approved the so-called Energy (Solar Water Heating) Regulations 2012, which were gazetted on 25 May that year (see the attached PDF). The Energy Regulatory Commission (ERC) confirmed that there “has been significant growth in solar thermal” since the solar obligation came into force. The financial institutions have also jumped on the solar bandwagon recently and are creating asset finance solutions to make solar water heating systems affordable. One of them is Housing Finance, a firm quoted on the Nairobi Stock Exchange. The company started the SolaPawa programme in March 2015 to focus “primarily on the provision of financing for solar water heating systems for both domestic and commercial entities,” Achieng Oluoch, Head of Marketing at Housing Finance, explains. “Our objective is to enable individuals and institutions to comply with this law in a convenient manner.”
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