“Data collection and monitoring regimes have yielded great results. There is enough wind and solar energy to set up a commercial integrated project. The kind of turbines to use depends on data on wind speed,” said Gitson Energy’s managing director Michael Ndiritu.
Gitson Energy plans to negotiate and sign an interim power purchase agreement with the Kenya Power and Lighting Company (KPLC). The agreement helps the company to accelerate the pace of raising money to fund the project.
The company will also look for funds from diverse sources such as equity financing and long-term, low-interest debt as well as working with suppliers to provide the equipment on a long-term basis repayment period.
“We are negotiating with several wind energy equipment suppliers. Gitson is pursuing carbon credits to help unlock project financing and contribute to availing to the national grid electricity that is cheaply generated,” Ndiritu said.
Gitson will have spend more money to link up to the national grid, if the proposed Kenya-Ethiopia transmission line is not completed in time.
“The government effort to support green energy development in Kenya is good. Kenya has resources that if harnessed properly can satisfy the country’s energy needs at competitive prices,” Ndiritu said.
