Hexing Group, a Chinese company renowned for supplying smart green energy products and solutions, has announced a substantial investment of $10 million (Ksh. 1.3 billion) to expand its operations in Kenya.
The investment will support the opening of a new office in Nairobi, which aims to capitalize on emerging business opportunities in Kenya and the wider East African region.
The expansion includes the setup of a local assembly line for power products, which were previously imported from Hexing’s manufacturing plant in China. This strategic move underscores Hexing’s commitment to localizing its operations and enhancing supply chain efficiency.
“Hexing is excited to expand our footprint in Kenya, a country that serves as the hub of the East African economy and possesses immense potential for development and market opportunities,” stated Zhou Xiping, Regional Chief Executive Officer for East Africa.
“Our investment reflects our confidence in the region and our dedication to providing innovative energy solutions,” he explained.
The company announces $10 million (Ksh.1.3 billion) investment in Kenyan market to enhance local operations. The expansion includes the setup of a local assembly line for power products, which were previously imported from Hexing’s manufacturing plant in China.
The company launched operations less than two months after President Xi’s commitment during the FOCAC Summit, where he announced 360 billion yuan ($51 billion) in financial assistance to Africa over three years, with 210 billion to be disbursed through credit lines and at least 70 billion in fresh investment.
Xi further announced that “China is ready to launch 30 new clean-energy projects in Africa,” demonstrating a concrete commitment to expanding green energy use on the continent. He indicated that these projects will encompass a range of initiatives, including local solar and wind developments as well as regional power grids.
Hexing’s new office is expected to significantly increase the capacity for product supply in the market and create approximately 100 job opportunities over the next 12 months. “The completion of our new premises marks a pivotal milestone in our company’s growth and demonstrates our long-term commitment to Kenya and the entire East African market,” the regional CEO noted.
“We anticipate that this new base will not only generate employment opportunities for the local community but also stimulate economic growth and deliver innovative solutions for smart power distribution, smart water use, and new energy markets in East Africa,” Zhou added.
Founded in 1992, Hexing Group has dedicated itself to advancing green energy solutions, providing customers with efficient and economical energy experiences. The company was listed on the main board of the Shanghai Stock Exchange in 2016 and has spent the last 30 years delivering new energy and smart grid solutions to clients worldwide.
Its product portfolio includes power metering and charging products, power distribution products, water metering and treatment solutions, inverters, charging piles, energy storage batteries, and other new energy products.
Today, Hexing operates as a multinational company, adhering to principles of focus, innovation, and customer orientation while serving customers in over 90 countries and striving to create a sustainable future.
As of 2022, renewable energy sources accounted for nearly 90 percent of electricity generation in Kenya, with renewables being the primary source of electrical energy production since 2001. In absolute terms, renewable-generated electricity in Kenya reached approximately 10 terawatt hours in 2020.