M a r k e t N e w s

Kenya: Germany Commits to Fund Kenya's Transition to 100% Renewable Energy

Posted on : Tuesday , 23rd May 2023

Germany has committed to offer both financial and technical support to Kenya to enable the country meet its target of achieving 100 % transition to renewable energy by the year 2030.

Germany Chancellor Olaf Scholz praised Kenya for its strong leadership and investments in geothermal energy, noting that will go a long way in helping the country in its climate change adaptation plans.

Chancellor Scholz who was speaking during his visit to geothermal wells in Olkaria, Naivasha on 6th May said Germany will continue to offer financial support to enable the government upgrade the old turbines in Olkaria some of which are several decades old in order to maximize on their potential.

The Germany Chancellor further said his government will support Kenya in establishing a green hydrogen economy which can be used in production of fertilizer crucial to the country's food security strategy.

Geothermal power generation is a good source of hydrogen which is a crucial component in fertilizer production.

It's worth noting the visit by the Germany Chancellor follows President William Ruto's visit to Germany last month where the 2 countries resolved to step up cooperation on green hydrogen and improve the business environment to attract German investors to Kenya.

The 2 leaders voiced their concern about the effects of climate change on livelihoods, communities, and nations and emphasized the urgent need for intensive efforts to reverse the effects of climate change.

Speaking during the visit, Energy and Petroleum Cabinet Secretary (CS) Mr. Davis Chirchir said Kenya was now producing 92 % green renewable energy out of the total energy produced in the country with the country set to retire the thermal (fossil) energy by year 2030 as the country turns to 100 % by year 2030.

The CS lauded the Germany support for the energy sector in the country where she is the largest investor in the green renewable energy.

Chirchir revealed that the Germany Government had funded the newest geothermal project at Silali in Baringo County at a cost of 80illion euros (about Ksh.12.2Billion) where 5 wells have been developed producing 45MW of power.

Germany Government had earlier advanced Kenya a 45 Million Euros (Sh.6.5 Billion) loan facility to Kenya for expansion of the Olkaria Geo-thermal power station in Naivasha.

Source : www.abafnz.com
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