Kenya has announced a significant milestone with the signing of green manufacturing agreements totalling USD 4.48 billion during the launch of the Africa Green Industrialisation Initiative (AGII).
The event was presided over by President William Ruto and involved collaboration with the COP28 Presidency (UAE) and several other African nations.
Hussein Mohamed, the State House Spokesperson, said the funds would be allocated to various green manufacturing projects across the country, ushering in a new era of sustainable development.
A standout partnership emerged as Kenya joined forces with Australian firm Fortescue to embark on a green fertilizer production project. Valued at USD 1.5 billion, this endeavour is poised to generate green ammonia, contributing to environmentally friendly agricultural practices.
Kenya also inked a momentous USD 1 billion agreement with Indonesia and Masdar for a 300MW geothermal project set to take place in Suswa. This initiative underscores Kenya’s commitment to harnessing clean and renewable energy sources for its development.
Further reinforcing Kenya’s green energy ambitions, Globeleq pledged USD 110 million toward the development of a 35MW geothermal project in Menengai. This investment reinforces the nation’s determination to secure sustainable and reliable energy sources.
The Geothermal Development Corporation and AMEA Power formalized a collaboration deal worth USD 800 million for the ambitious 200MW Paka Geothermal project. This initiative represents a substantial step forward in Kenya’s pursuit of geothermal energy development.
Kenya has joined hands with the United States, Brazil, and India to launch a Clean Energy Supply Chain expansion initiative, supported by a USD 568 million loan designed to bolster clean energy infrastructure in developing countries.
United Green and Kenya Development Corporation also announced a partnership dedicated to a vast 15,000-hectare sustainable agriculture project.
President William Ruto, currently attending the climate conference, is at the forefront of efforts to address the profound impacts of climate change.
These ground-breaking agreements and investments underscore Kenya’s commitment to green industrialization and a more sustainable future.
