Kenya ranked tenth globally in clean energy investments


By James Anyanzwa | Business Daily, Kenya December 19, 2016
Vapour rises from part of a plant next to installed pylons transmitting energy from the ol-Karia geothermal power generation complex that lies on the floor of the Kenyan Rift Valley, near the shores of Lake Naivasha (approx.120 kilometers north-east of capital, Nairobi) . Kenyas installed steam power capacity now stands at 579MW, ahead of giant economies such as Japan, Russia, China and Germany  according to a study presented to the World Bank by state-owned KenGen, with ambitions to scale up to 5,000 megawatts by 2030 Olkaria is one of the largest single geothermal investment projects in the world and geothermal the largest source of electricity for Kenya today, accounting for a mere 13% of the national grid in 2010, after hydro-energy. AFP PHOTO/TONY KARUMBA        (Photo credit should read TONY KARUMBA/AFP/Getty Images)
Vapour rises from part of a plant next to installed pylons transmitting energy from the ol-Karia geothermal power generation complex that lies on the floor of the Kenyan Rift Valley.
AFP

Kenya, which in 2015 attracted Sh49.4 billion ( $484 million) clean energy investment and climate financing, has been ranked among the top 10 countries in the field globally and third in Africa.

In a report, Climatescope 2016 Index, Kenya scored 2.01 and was placed 10th in overall ranking, down four position from 2015.

Among the 19 African countries surveyed it was ranked number three behind South Africa and Uganda. The report assesses clean energy market conditions and opportunities in 58 emerging nations in South America, Africa, the Middle East and Asia.

It scores countries based on their levels of activity and the environment they create to attract further clean energy investments.

“In the clean energy investment and the rise of solar, the Sh32 billion ($316 million) financing of the 100MW Kipeto onshore wind farm was one of the record breaking deals for the country following the conclusion of the Sh87 billion ($859 million) Lake Turkana wind power project financing in 2014,” the report said.

Private equity and venture capital flows into off-grid solar accelerated from 2014 to 2015 too.

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