Kenya’s Clean Energy Offers Surge Amid Oversupply Fears

Wednesday, December 11, 2019

By Macharia Kamau

Power producers have made new offers to develop electricity plants that could double Kenya’s generating capacity.Different companies had as of last year applied for licences to develop power plants that would use renewable energy sources with a capacity to produce over 4,000 megawatts (MW) of electricity.But the applications have stalled owing to concerns that this would increase the installed capacity that is already in surplus.

A new report by BloombergNEF, an energy research firm affiliated to Bloomberg, said the interest by investors has been due to Kenya’s emergence as an attractive investment destination for clean energy investments.New investments are largely focused on solar, wind and geothermal.In a survey published last week, Bloomberg put the value of investments that investors put in clean energy plants last year at Sh140 billion ($1.4 billion).

Photo courtesy of Marufish.

Categories
Energy
Tags
clean energy, emerging markets, renewable energy