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Kenya Signs Deals Worth $4.48 Billion to Develop Green Projects
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2023-12-03 03:20
Kenya signed deals for seven green projects on the sidelines of the COP28 summit, include geothermal generation plants,

Kenya signed deals for seven green projects on the sidelines of the COP28 summit, include geothermal generation plants, fertilizer production and a data center powered by renewable energy, according to an emailed statement.

Kenyan President William Ruto is pushing for Africa to become a “green powerhouse.” Kenya generates 92% of its electricity from renewables including geothermal, hydro and wind. The nation also has a target to grow 15 billion trees and rehabilitate 10,000 wetlands with an eye on nature swaps.

Deals signed:

  • $1.5 billion green fertilizer project with Fortescue Future Industries
  • $1 billion geothermal project at Suswa with the Indonesian government, through Masdar-backed Pertamina Geothermal Energy
  • AMEA Power of the UAE and Gothermal Development Co. of Kenya to invest $800 million in the 200MW Paka Geothermal Project
  • $600 million data center at Olkaria powered by green geothermal energy in partnership with EcoCloud
  • United Green and Kenya Development Corp. to implement a $270 million sustainable agricultural project on 15,000 hectares in the lake basin region
  • $200 million Clean Energy Supply Chain(CESC) initiative
  • $110 million geothermal project for 35MW with Globeleq at Menengai
  • Earlier: Kenya to Consider Sovereign Green Bonds to Fund Climate Projects
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