Kenya to use $2bn fund for renewable energy
1 December 2009
The Kenyan government has announced its intention to develop renewable energy from a $2 billion (£1.2 billion) fund set up with the aid of the World Bank, the French Development Agency, the KfW of Germany and African Development Bank.
Permanent finance secretary Joseph Kinyua was quoted by Kenyan newspaper the Daily Nation as saying the money will be invested through the private sector.
Independent power producers will invest in commercially viable geothermal, solar and wind electricity production projects.
Speaking at a green energy conference in Nairobi this week, Mr Kinyua added some 500 million Kenyan shillings (£4.1 million) had been earmarked by the government to lend to small and medium-sized enterprises that are supporting these types of projects.
Permanent energy secretary Patrick Nyoike said assessment studies were already underway for 33 wind sites and 14 small hydro sites to start in January 2010.
Aiming for a green economy status by the year 2020, the country also has a green power generation target of 2,000MW by June 2012.
The nation recently opened bidding for the supply, installation, testing and commissioning of solar power systems in schools and health facilities in the Asal districts.