Kenya to woo Chinese investors to drive green energy agenda-Xinhua

Kenya to woo Chinese investors to drive green energy agenda

Source: Xinhua| 2022-06-17 22:29:13|Editor: huaxia

NAIROBI, June 17 (Xinhua) -- Kenya plans to woo Chinese investors to help drive the country's green energy agenda, a government official said.

Peter Mbugua, CEO of state-owned Rural Electrification and Renewable Energy Corporation told Xinhua during a sustainable energy conference held in Naivasha, a resort town located 90 km northwest of the Kenyan capital Nairobi, that China is a global leader in the development and use of sustainable energy.

"We would want to encourage China to come and actually bring the technology that they have developed, we do not need to reinvent the wheel," Mbugua said on Thursday.

According to the state-owned Energy and Petroleum Regulatory Authority, Kenya's installed electricity generating capacity of 2,990 MW consists of 29 percent geothermal, 28 percent hydropower, 23 percent thermal, 15 percent wind while solar accounts for the remainder.

Data from the ministry of energy indicates that Kenya has an estimated potential of 10,000 MW of geothermal, 4,600 MW of wind and 18,000 MW of solar power.

Mbugua added that Kenya would also want to work closely with the Chinese companies so that after the energy projects are completed, the east African nation can benefit from technology transfer.

"The other thing is that these projects require a lot of heavy investment. So essentially, we all agree China is ahead of us in terms of availability of funds," he added.

Mbugua revealed that Kenya is also keen to cooperate with China in the area of research and development so as to generate additional renewable energy sources.