Green energy investors to get insurance boost
Published by
Business Daily
Business Daily
Kenyan insurers and the UK government-backed Financial Sector Deepening (FSD) are teaming up with UK-based energy and climate risk finance company Parhelion to cushion local investors in renewable energy projects from unexpected losses. FSD said the parties will launch a first-of-its-kind underwriting facility, backed by local insurers, to de-risk early stage development of geothermal energy projects in Kenya and Ethiopia with the capacity to significantly expand electricity access. The initiative is expected to create 2,600 jobs in renewable energy and insurance sectors while bringing electri…