According to Kenya’s Cabinet Secretary for Energy and Petroleum Davis Chirchir, the country has set an ambitious goal to lower its energy prices and enhance its transmission networks to better support its expanding economy.
He claimed that by making this choice, Kenya would continue to be a desirable location for foreign investment in the area. Additionally, the country has embraced more renewable and green energy due to climate change.
About 94% of Kenya’s energy comes from renewable sources, such as geothermal, wind, and hydropower. By 2030, the government hopes that all of the nation’s energy production will be carbon-neutral.
The country wants to gradually phase out all fossil-based energy generation, according to Energy & Petroleum CS Chirchir.
To help increase the population’s existing 35% access to power, Kenya must first entice international funding.
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The nation’s hydropower producing capability, which currently accounts for 33% of the nation’s total energy mix, has been negatively impacted by climate change.
The nation has been forced to divert its attention to geothermal energy sources, which are exceedingly expensive to develop, as a result of the effects of climate change.
Kenya has been able to establish power purchasing agreements with independent power producers or KenGen at prices between 6.5 and 7 cents, despite the fact that producing geothermal energy costs roughly $ 3 million (Ksh424.8 million) per MW.
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“So we are focused on bringing down costs. The price of solar panels has come down significantly. As we go forward because of technological advances in terms of panels, our capacity for wind masts and solar panels is good and we are in the right place at the right time. We will work closely with the regulator so we continue to dispatch the best price source to the grid, “said Energy CS Davis Chirchir.
