Kenya Electricity Generating Company PLC (KenGen) has been cleared to sell an equivalent of 4.6 million tons of carbon emissions, earned over the last 18 months.
This follows the finalization of the verification of the issuance of a cumulative 4,617,309 tons of Carbon Emissions (CO2e) to six KenGen projects, by the United Nations Framework Convention on Climate Change (UNFCCC).
This decision was arrived at after issuance of the latest 2,025,813 tons of Carbon Emission Reductions (CO2e) to the 150MW Olkaria IV Geothermal Project, which was the last of the six projects which KenGen applied for verification through the UNFCCC.
The announcement comes hot on the heels of the issuance of 2,040,515 tons of CO2e to KenGen’s Olkaria I, Units 4 and 5 Geothermal Power plant, by the UNFCCC on 17th August 2021.
In a statement to newsrooms, today, KenGen Managing Director and Chief Executive Officer, Mrs. Rebecca Miano, hailed the UNFCC’s issuance of the carbon credits to KenGen, as a boost to the Company’s lead in climate action, not only in Africa but in the world.
“KenGen has so far developed and registered Six (6) Clean Development Mechanism (CDM) Projects comprising of Olkaria II Geothermal Expansion Project, Redevelopment of Tana Hydro Power Station Project, Optimization of Kiambere Hydro Power Project, Olkaria IV Geothermal Project, Olkaria I Units 4&5 Geothermal Project and Ngong Windmills.” Miano said,
The first KenGen project to be issued with carbon credits under the CDM initiative, she explained was the Tana hydroelectric power project which received 57,458 carbon credits on 13th March 2020.
KenGen Company intends to incorporate additional geothermal, wind and solar projects which will further reduce carbon emissions annually, in the process reducing the impact of climate change on the environment.
“As a way of enhancing our portfolio on climate change mitigation projects, KenGen intends to incorporate additional geothermal, wind and solar projects which will reduce between 100,000 to 600,000 tons of carbon dioxide emissions every year, in the process reducing the impact of climate change on the environment,” she added.
The CDM projects contribute to national sustainable development by providing clean energy which ensures improved environmental quality, positive health impacts and increased productivity.
CDM was developed as part of the output of a global concern to contribute to climate change mitigation and to foster sustainable development for non-industrialized countries.
KenGen ,the MD reiterated has deliberately shifted its strategy to focus on the production of green energy and currently more than 86 per cent of the energy produced by the Company from clean sources namely wind, hydro and geothermal. Kenya is today Africa’s largest geothermal energy producer and among the top 10 in the world. The country has an estimated potential of 10,000MW of geothermal along the Rift Valley.
KenGen is the leading electricity generation company in Eastern Africa region with an installed generation capacity market share of more than 60 per cent.
Today, KenGen PLC has an installed generation capacity of 1,818MW, of which over 86 per cent is drawn from green sources namely: Hydro (826MW), Geothermal (713MW), Thermal (253MW) and Wind (26MW).
By Wangari Ndirangu