Taylor Scott International believes that clean energy can be profitable.
(PRWEB) November 01, 2013
Pending regulatory approval, Taylor Scott International is actively scouting for locations to build a 10MW “off grid” solar power plant in Kenya. The US$20,000,000 project will generate affordable electricity for thousands of families living in rural areas.
“With a conservative estimate of Kenya Power inflation of five per cent per year, the project will be paid off in about six or seven years. If Kenya Power inflation rates are higher, it will be five years or so,” said Mr. Brendan Hannigan, Managing Director for Taylor Scott International in east Africa.
Earlier this year, the region’s largest operating solar plant, a 72 kilowatt plant for Uhuru Flowers based in Laikipia County in Kenya, was commissioned.
Additional planned, medium and large scale solar power projects include a 30 kW project by Red Lands Roses farm in Ruiru, a 4.1MW project by the upcoming Garden City along Thika superhighway, and projects by Strathmore University and shopping malls.
According to Taylor Scott International, Africa’s biggest operational solar power plant is the 15MW plant in Mauritania. South Africa’s state owned utility company Eskom is seeking to develop a 115MW solar power plant to be operational by end of 2014.
Demand for renewable energy is driven by Kenya’s continuing economic growth, resulting in a middle class that is spending more, and an expanding informal business sector.
For example, in the years 2005-2011, Kenya Power connected more people to the national grid than the country had been able to do in the first 45 years of Independence!
Taylor Scott International estimates that between 2013 and 2018, the region will need to invest $14 billion to meet its electricity needs, with the total spending over the next 20 years expected to rise to $64 billion, or nearly half the region’s economy.
KenGen alone plans to invest $4.5 billion in either putting up or expanding power plants in the next five years, while Kenya Power is also planning to spend millions of dollars in expanding its distribution network.
Over the past 10 years, the East African region has made more investments in the energy sector than it had in the previous 50 years.
In Tanzania, the government has announced plans to jointly develop a 400MW gas powered plant with Symbion, a US company.
Taylor Scott Energy is a wholly owned subsidiary of Taylor Scott International PTE. LTD.