Big-ticket renewables signings in Kenya

US President Barack Obama’s visit to Nairobi was gilded by the signing of some major renewables agreements. The biggest numbers – $2.2bn – were affixed to the signing at the Global Entrepreneurship Summit of an agreement to develop solar projects with combined capacity of 1GW between Canada-based SkyPower, which is majority owned by US-based urban real estate and infrastructure investment firm CIM Group, and the Kenyan Ministry of Energy. The deal is structured in four phases to be rolled out over the next five years.