M a r k e t N e w s

Kenya: Construction of 35-Megawatt Menengai Geothermal Power Project Starts

Posted on : Thursday , 29th June 2023

The government broke ground on the construction of a 35- MW Menengai Geothermal Power Plant in Nakuru County as it seeks to grow clean energy sources.

 

The project was officially opened by Deputy President Rigathi Gachagua on 9th June.

 

President William Ruto's administration is betting on geothermal power sources to transition the country to a 100% transition to green energy amid climate change.

 

"This will contribute to lowering the cost of energy and accelerate Manufacturing, Digital Economy, among other benefits," said Gachagua.

 

"As one of the countries most affected by climate change, we are determined to attain our target of 100% transition to green energy; it is clean, reliable, affordable, and sustainable."

 

The high cost of power is attributed to the exorbitant cost of producing electricity through generators, which is passed on to final consumers.

 

The Menengai project is part of Kenya's commitment, which was announced at COP27 in November 2022, to fast-track green investment projects worth $3.99 billion.

 

Financing agreements for the project were signed in December 2022 with the African Development Bank (AfDB), the Eastern and Southern African Trade & Development Bank, and Finnfund.

 

Source : www.abafnz.com
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