Banque Misr has launched “Mashroat Express Platform” (or Express platform for projects) for the first time ...
UK, Kenya team up for KES 12.5 bn green power plant announced at COP 27
The UK and Kenya have teamed up once again to implement KES 12.5 billion geothermal plant which will generate 35MW of electricity, providing 750,000 Kenyans with affordable, clean energy.
The project is part of the two countries’ commitments during the 27th United Nations Climate Change Conference (COP27).
The Menengai Geothermal Power Plant, one of the six green investment projects – worth KES 500bn – that were fast-tracked by President Ruto and Prime Minister Sunak at the COP27 climate summit
The project falls within the framework of efforts to combat climate change, create jobs and generate affordable power for Kenyans.
During construction, it is expected the project will create approximately 200 job opportunities for Kenyan workers. Upon operation, it will provide jobs for 35 to 40 permanent staff and contractors.
This makes it the second project to have construction commence. Exactly one month after the summit in Egypt, construction began at Nairobi Railway City – a green rail-centered urban regeneration project in central Nairobi.
These investments are flagship projects of the UK-Kenya Strategic Partnership – an ambitious five-year agreement which is unlocking mutual benefits for the UK and Kenya.
At the UK-hosted G7 in Carbis Bay two years ago, world leaders committed to build a new Global Partnership for Infrastructure. These projects are examples of predictable, transparent and reliable investments by the UK, which do not load Kenya with unsustainable debt.
UK High Commissioner to Kenya Jane Marriott, said “This shows that the UK and Kenya go far when we go together – delivering mutual benefits for both our countries. This plant will both advance Kenya’s global leadership on climate change, and bring down the cost of power – showing that green growth is good for business, and good for Kenyans.