Kenya, which in 2015 attracted Sh49.4 billion ( $484 million) clean energy investment and climate financing, has been ranked among the top 10 countries in the field globally and third in Africa.
In a report, Climatescope 2016 Index, Kenya scored 2.01 and was placed 10th in overall ranking, down four position from 2015.
Among the 19 African countries surveyed it was ranked number three behind South Africa and Uganda. The report assesses clean energy market conditions and opportunities in 58 emerging nations in South America, Africa, the Middle East and Asia.
It scores countries based on their levels of activity and the environment they create to attract further clean energy investments.
“In the clean energy investment and the rise of solar, the Sh32 billion ($316 million) financing of the 100MW Kipeto onshore wind farm was one of the record breaking deals for the country following the conclusion of the Sh87 billion ($859 million) Lake Turkana wind power project financing in 2014,” the report said.
Private equity and venture capital flows into off-grid solar accelerated from 2014 to 2015 too.