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Browsing: geothermal
- EIB Vice President confirms EIB support for green hydrogen engagement with President Ruto
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- EIB and Kenya to identify potential green hydrogen investment projects
The European Investment Bank (EIB) has committed to support and strengthen green hydrogen investment in Kenya.
Thomas Östros, European Investment Bank Vice President and Professor Njuguna Ndung’u, Cabinet Secretary, National Treasury and Economic Planning signed the Joint Declaration on Renewable Clean Hydrogen following discussions on green hydrogen investment with Kenya’s President William Ruto.
“Kenya has some of the best renewable energy sources in the world if the storage components were equally developed. The route to storage has the potential to develop green hydrogen to deliver sustainable, green and inclusive growth. Today’s agreement builds on decades of close cooperation with the European Investment Bank to support renewable energy across Kenya. Together we will develop …
Kenya, East Africa’s largest and most advanced economy is currently the leading region exploring and installing geothermal energy capacity (standing at 676 MegaWatts, 2019) according to ESI Africa, hence Kenya is seeking to expand its geothermal mastery.
On a larger scale, the geothermal technology is rather at an initial phase in Africa, as developed nations take the lead, including high-installed capacities in the US with more than 3.8 gigawatts, according to Power Technology publication.
Kenya Electricity Generating company has taken its interest to another level, as it seeks to raise at least $1.95 billion to build new and upgrade existing plants “in a bid to almost double its output from the renewable fuel” according to information from Bloomberg News.
The Kenyan power company ambitions will make Kenya a competitive powerhouse, as the country has a total installed capacity of 2.4GW, the stated-owned company anticipated to sweep more than 651 megawatts …
So attractive is the sector in Africa that the UK has invested over £50 million into clean energy projects on the continent.…