Bamburi Cement, a leading cement company in East Africa that is partially owned by Kenyan industrialist Baloobhai Patel, announced significant progress toward sustainability by revealing that it expects annual savings of Ksh400 million ($2.57 million) upon completion of its two solar plants in Nairobi and Mombasa.
Jane Wangari, Bamburi Cement’s sustainability and geocycle director, made the disclosure at the DTB’s third economic and sustainability engagement session, held at the Serena Hotel in Nairobi.
Wangari emphasized the strategic advantages of the Power Purchase Agreement (PPA) with MomNai Energy Limited, citing the favorable environmental impact and significant financial rewards.
Wangari expounded on the PPA during the event, noting, “It is a PPA, which means we do not need to make any investments, and we will save about Ksh400 million ($2.57 million) on power each year.” The arrangement, signed with MomNai Energy Limited, permitted the construction of two solar facilities near Bamburi Cement’s Mombasa and Nairobi factories.
The 14.5 megawatt solar facility in Mombasa and the five megawatt plant in Nairobi are expected to provide roughly 30% of Bamburi Cement’s yearly electricity requirements. Wangari highlighted the dual benefits of lowering carbon emissions and producing significant savings, stating, “The savings are massive.”
Bamburi Cement, known for its innovative construction solutions, is regarded as one of East Africa’s leading cement firms. The company’s huge Mombasa cement facility, one of the largest in Sub-Saharan Africa, demonstrates its dedication to innovation by providing sustainable building goods and solutions using cutting-edge technology.
Patel, a Kenyan multimillionaire who has a 4.12 percent share in Bamburi Cement through his private investment business, Aksaya Investment, has played a key role in promoting the company’s sustainability.
Patel’s impact extends beyond Bamburi Cement, with investments in well-known companies like as financial services company Sanlam and industrial gas giant Carbacid demonstrating his status as a serial investor.