The project was funded entirely by Spark Energy Services, the innovative financing Camco created to support the deployment of captive renewable energy and energy efficiency initiatives in Africa’s commercial and industrial (C&I) sector.

The work, which has seen panels installed at various sites across the city, was carried out by Spark development partner, Safi Power. The installations took an average of eight weeks per site and were completed over a three-month period ending in May 2024.

As well as avoiding nearly 400 tonnes of greenhouse gases every year, the new panels are set to reduce students’ residences developer Acorn Holdings Africa’s electricity costs by more than 20%.

Acorn Holdings Africa hit the headlines in 2019 after being given the go-ahead to raise up to Ksh.5 bn (approx. USD 38m) in funds by way of a green bond. The issuance, which was the first green bond issued in Kenya and is listed on the London Stock Exchange, has been seen as a critical step in propelling the development of sustainable capital markets in the country.