Solar Energy in Rapid Growth
Renewable energy and market developments
The global energy transition has been underway for several years, but the pace is now accelerating rapidly.
Solar energy is no longer a vision of the future – it is the fastest-growing form of energy globally. In many countries, it is already the cheapest option for new electricity production.
The cost of producing solar energy has decreased by more than 80 per cent since 2010, and in 2024, the global average price was just USD 0.04 per kilowatt-hour. At the same time, demand is increasing dramatically, especially in Africa, where access to stable electricity is still limited, but demand is skyrocketing.
In Kenya, electricity prices for households are around USD 0.22/kWh – almost twice as high as in Sweden – making solar power plants a very attractive investment.
Energy demand is growing, the sun is a constant source, and the technology is proven. This is where the real potential lies.
Why invest in solar energy
and why in East Africa?
Investing in solar energy is not just a matter of climate responsibility – it is also a rational economic strategy.
Renewable energy is the fastest-growing industry in the world, and in recent years, it has accounted for more than 80 per cent of all new power plant investments.
At the same time, East Africa is a region with enormous potential that remains largely underexploited.
It enjoys an average of 3,000 hours of sunshine per year, stable political initiatives for green transition and growing local markets.
For investors, this means a rare combination of high solar radiation, high electricity prices and high demand.
In addition, agrivoltaics provide an extra source of income – the land beneath the panels continues to produce food, which reduces risk and strengthens local communities.
Energy and development
The local roots of the projects and cooperation with farmers and communities mean that the benefits remain where they are generated. We build long-term value by combining technology, natural resources and human expertise in practical collaboration.
SunAgro works at this intersection between energy and development.
Every project we build contributes to a greener electricity market and gives people access to stable electricity – a basic prerequisite for education, health and entrepreneurship.
Renewable energy is the fastest growing industry in the world and has accounted for more than 80 per cent of all new power plant investments in recent years.
At the same time, East Africa is a region with enormous potential that is still only partially exploited.
Now that solar energy is cheaper than fossil fuels, Africa is becoming a major growth market. This is where profitability, climate benefits and social development come together in practice.
