Kenya’s President William Ruto said it aims to produce 30GW of green hydrogen production after signing a KES500billion (US$4,098,500,000.00) deal with the UK to fast track green investments.
The UK-Kenya Strategic Partnership is an ambitious five-year agreement that aims to unlock benefits for both countries.
The UK Government will commit KES2bn to a new guarantee company that will lower investment risk and unlock KES12bn of climate finance for Kenyan projects over the next 3 years, through collaboration with CPF Financial Services and other private investors.
The Malindi Solar Expansion will receive an additional KES7.5bn investment.
Plans at the 40MW solar plant, constructed by UK Company Globeleq with finance from British International Investment, which was connected to the grid in December 2021, will double the size of Malindi Solar and add battery storage.
Other investments include KES425bn in Grand High Falls Dam – which will generate 1,000MW of hydro-electric capacity – KES12.5bn in Menengai Geothermal and KES31bn in United Green crop and agro-industrial processing system.
Addressing delegates at COP27, President H.E William Ruto, said Kenya’s electricity is 93% green and outlined the potential of green hydrogen, before making the 30GW target.
“There exists in Kenya the opportunity to produce 20GW of wind power, 10GW of geothermal electricity, and being at the equator, considerable amounts of solar power. In East Africa, there is sufficient hydro-electric potential to produce 100,000MW and if properly exploited, could generate enough clean energy for the whole of the continent.”