Lenders advisory for two solar PV projects in Kenya

The challenge

The Radiant and Eldosol solar PV projects were amongst the first to generate utility-scale solar power in East Africa, with the site located near the town of Eldoret, some 300 km north-west of the capital Nairobi. The developer, Frontier Energy from Denmark, a leading investor in the African renewable energy market, was seeking to raise senior debt financing and requested the Dutch Entrepreneurial Development Bank (FMO) and the European Investment Bank (EIB) to participate.

The solution

Haskoning supported with the technical, economic/financial, contracts and environmental and social due diligence of the two projects. During construction of the projects, we conducted periodic site visits and during the testing and commissioning phase we acted as the Independent Engineer. We continued monitoring for Lenders in the operational phase.

The result

Financial close was reached end of 2018. The construction of the two solar farms commenced subsequently. The two projects were successfully commissioned in October 2021.