The Kisaju View Park - 2 comprises three and four bedroom houses.
The Athi View Estate targets middle to high income earners in Nairobi.
New laws will open up high-end estates west of Nairobi to commercial property developers.
Banks are cutting back lending to builders amid fears that they may default on their loans.
The plant will be the first to make photovoltaic (PV) solar panels in the region.
The development spans 41 acres and will comprise 2,500 one-bedroom units.
Iberdrola IngenierÃa and Gamesa sign deal to build a 13.6-MW wind farm in Ngong.
Project seeks to improve the living conditions of 5.4 million slum dwellers.