Kenya’s Energy Producer Kenya Electricity Generating Company (KenGen) in partnership with the European Investment Bank (EIB) are targeting to increase the investment in renewable energy development in Kenya.
This emerged during Thursday visit to the firm’s Olkaria Geothermal Power Plant by EIB Vice President Thomas Östros.
The visit showcased the longstanding partnership between KenGen and EIB and explored potential areas of partnership for future collaboration.
“The European Investment Bank is committed to accelerating renewable energy across Africa and has supported visionary geothermal investment by KenGen here at Olkaria over the last 41 years,” said Östros.
He highlighted Olkaria as a renewable energy model for the rest of the world.
Östros stated the importance of renewable energy in helping to reduce the impact of global energy shocks in Kenya and reduce carbon emissions on a global scale.
The visit comes at a time when Kenya is keen on deploying renewable energy as the country makes progress towards achieving a 100pc transition to clean energy by the year 2030.
During the visit, the EIB Vice President was given a tour of the recently commissioned 86MW Olkaria I Additional Unit 6 Geothermal Power Plant that is currently supplying the nation with additional renewable energy.
The visit also provided an opportunity for both parties to explore potential areas of partnership mainly focusing on green energy projects which will not only help stabilize the electricity supply in Kenya but also help in the global climate action agenda.
The EIB delegation was hosted by KenGen Ag. Managing Director and Chief Executive Officer Abraham Serem who welcomed the visit by the Vice President of EIB and expressed gratitude for the support that EIB had provided to KenGen over the years which he said has gone a long way in putting Kenya on the global map as a renewable energy leader.
