“This will contribute to lowering the cost of energy and accelerate Manufacturing, Digital Economy, among other benefits,” said Gachagua.
“As one of the countries most affected by climate change, we are determined to attain our target of 100 percent transition to green energy; it is clean, reliable, affordable, and sustainable.”
The high cost of power is attributed to the exorbitant cost of producing electricity through generators, which is passed on to final consumers.
The Menengai project is part of Kenya’s commitment, which was announced at COP27 in November 2022, to fast-track green investment projects worth $3.99 billion.
Financing agreements for the project were signed in December 2022 with the African Development Bank (AfDB), the Eastern and Southern African Trade & Development Bank, and Finnfund.
