Renewvia Energy, A U.S.-Based Firm, Collaborates with Renewable World...
Renewvia Energy is conducting a feasibility study for the development of solar microgrids in key geographies in Kenya funded by a grant from the U.S. Trade and Development Agency(USTDA) as part of the Power Africa initiative. On September 21, Trey Jarrard, CEO of Renewvia, signed the cost share agreement during the U.S.-Africa Business Forum held in New York City at the Plaza Hotel. On September 22 Jarrard participated as a panelist for "Climate Week Conversation: Unlocking Clean Energy Investment in Sub-Saharan Africa," an event that brought together CEOs from African clean energy companies to discuss how project preparation assistance can help unlock investment in clean energy across Africa.
In addition to providing the data and analysis necessary to complete the feasibility study, Renewvia will leverage its success of developing solar and microgrid projects on four continents to secure implementation financing for the development of up to 50 megawatts of solar microgrids in Kenya over the next five years. Renewvia understands the need to continue taking balance sheet risk to seed and unlock conventional and scalable financeable structures for rural electrification solar development. Renewvia is in discussions with institutional capital sources to explore conventional financing structures for this new unsecured prepaid individual subscriber model. The total market potential for Kenya and Sub-Saharan Africa solar rural electrification is immense and exciting at every level.
"Renewvia is delighted to have the opportunity to extend our solar microgrid development in Kenya,” said Jarrard. “For the first time hundreds of rural Kenyan citizens are receiving power at a rate that is commensurate with off-grid generation without being responsible for maintaining power equipment.”
“Solar photovoltaic (PV) microgrids are making the dream of rural electrification a reality, and we are enthusiastic about providing this life-changing technology to areas of critical need in Kenya and beyond,” said Pam Onyanyo, Director of Sub-Saharan Africa for Renewvia.
About USTDA & Power Africa
The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority development projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project planning activities, pilot projects, and reverse trade missions while creating sustainable infrastructure and economic growth in partner countries.
Power Africa is a U.S. Government-led initiative launched by President Obama in 2013. Power Africa’s goals are to increase electricity access in sub-Saharan Africa by adding more than 30,000 megawatts of cleaner, more efficient electricity generation capacity and 60 million new home and business connections. Power Africa works with African governments and private sector partners to remove barriers that impede sustainable energy development in sub-Saharan Africa and to unlock the substantial wind, solar, hydropower, natural gas, biomass, and geothermal resources on the continent. For additional information, please visit the Power Africa website (http://www.usaid.gov/powerafrica).
Renewvia Energy designs, installs, owns, and operates commercial and utility solar power systems. The company provides a complete range of solar energy solutions, including turnkey solar installation, integrated financing and solar consulting services. Renewvia solar power plants reside in multiple geographies, interconnecting to numerous utilities under complex and challenging financing structures. For more information, visit http://www.renewvia.com.