Kenya Gets Record Sh145bn Green Energy Investments

By Business Daily

Kenya attracted a record $1.4 billion (Sh145 billion) investments in renewable energy last year, the third-highest in the Middle East and Africa, deepening its shift from expensive sources of electricity.

The 2019 United Nations Environment Programme (UNEP) report that tracked global trends in renewable energy investments shows Kenya overtook Egypt, United Arabs Emirates, Jordan, and Rwanda to join top six hotspots for green energy.

“Kenya saw an investment of $1.4 billion in 2018, the highest on record, and split almost equally between geothermal at $486 million (Sh50.4 billion), wind at $476 million (Sh49.4 billion) and solar at $467 million (Sh48.5 billion),” says UNEP in the report.

Kenya trailed South Africa and Morocco who attracted $4.1 billion (Sh426 billion) and $3.1 billion (Sh322 billion) respectively. The largest deals in the country were $366 million (Sh38 billion) for the 83 megawatts (MW) KenGen Olkaria I unit 6 geothermal plant, and $333 million (Sh34.6 billion) for the 100MW Actis Kipeto wind farm. Read more>>

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