Top News

The UK and Kenya are collaborating on the Grand High Falls Dam and other climate-friendly projects. – Africa 24.it

The UK and Kenya have agreed to accelerate six projects worth KES 500 billion ($4.1 billion) to accelerate the flow of climate finance to Kenya, following a meeting between the UK’s prime minister and Kenya’s president at the COP27 climate summit.

Projects covered by the five-year agreement include the Grand High Falls Dam and its associated hydroelectric power station and will become key projects of the UK-Kenya strategic partnership, according to a statement.

The Prime Minister paid tribute to President William Ruto’s pioneering leadership on climate and urged Kenya to continue on the path of green growth, urging all countries to live up to the commitments they made at COP26. During his recent visit to Kenya, COP President Alok Sharma reiterated the need for progress on access to finance and transformative adaptation action by COP27.

“The UK and Kenya come a long way when they walk together,” said UK High Commissioner to Kenya Jane Marriott.

The projects that will be accelerated are:

Grand High Falls Dam: Ksh425 billion ($3.5 billion) investment. A public-private partnership on the Tana River will provide 1 GW of hydroelectric power and irrigate 400,000 hectares of farmland. Led by British engineering firm GBM, the project includes an electricity purchase agreement for clean energy and a water purchase agreement for agricultural irrigation.

Malindi Solar Expansion: C$7.5 billion ($61.6 million) investment. A 40MW solar farm, built by UK company Globeleq with funding from British International Investment, which was brought online in December 2021. Plans call for doubling its size and adding storage batteries – an additional investment of Ksh7.5 billion.

See also  Whoever pays taxes will remain

Meningai Geothermal: Investment of KES 12.5 billion (US$102.7 million). A 35 MW geothermal project led by GDC and Globeleq that will mark the full development of the field discovered by GDC. The project has a signed and effective PPA with KPLC confirming one of the cheapest tariffs for basic renewable energy.

Nairobi City Railway: Investment Kshs 11.5 billion (US$94.5 million). A green revamp of Nairobi Centre, centered around a new central railway station connected by the Bus Rapid Transit (BRT), incorporates the latest innovations in green building technology and planning. The project was developed with technical assistance from the British government and the British architects firm (Atkins) won the contract to design the new station.

United Green: Investment of KES 31 billion (US$254.8 million). A climate-smart agricultural processing and farming system that, through a joint venture with Kisumu County, will create 2,000 direct jobs and provide income for an additional 20,000 farmers across all counties in the Lake Victoria region.

Safeguards: The UK government, through a private Infrastructure Development Group, is working with CPF Financial Services and other private investors to launch a guarantee company that will discourage investment and unlock private financing from pension funds and insurers for projects in Kenya. The UK government will allocate Ksh2 billion ($16.4 million) to the company, which will mobilize Ksh12 billion ($98.6 million) to fund the new environment for Kenya’s infrastructure over the next three years.

Earl Warner

"Devoted bacon guru. Award-winning explorer. Internet junkie. Web lover."

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close