Pact delineates a commercial framework for the execution of the project, including government support for the critical resources, infrastructure and offtake
By EB Content Studio
Green energy developer Fortescue Future Industries (FFI) is advancing ambitions to develop a green energy and fertiliser project in Kenya, with the company signing an Investment Support and Implementation Agreement with the Kenyan government.
The Investment Support and Implementation Agreement will accelerate the Framework Agreement signed during COP27, for the potential development of a 300-MW-capacity generation green ammonia and fertiliser facility in the Naivasha vicinity of Olkaria geothermal
field.
The agreement outlines a commercial framework for the implementation of the project, including government support for the critical resources, infrastructure and offtake.
As part of the project’s scope, the parties also agreed, to include the supply of green electricity to Kenya’s grid.
“Today we mark an important milestone in our commitments to not only reduce greenhouse-gas emissions, but more significantly make a bold statement that Kenya is on an ambitious green growth agenda,” Kenya President Dr William Ruto said.
“We are also walking the talk by taking steps that proactively exploit the opportunity to not only provide solutions to the global climate crisis, but also leapfrog our people and economies into a Green Industrial Age.
“Our plan to achieve radical socio-economic transformation commits our government to accelerate geothermal resource development, reduce the cost of renewable energy and transition to 100% clean energy generation, by 2030. This requires major equity and technological
investments.”
Fortescue executive chairperson Dr Andrew Forrest said that momentum was accelerating for Kenya’s vision to establish itself as a world leader in the production of fertiliser made using green ammonia.
“In doing so its leadership is providing Kenya additional energy security that steps beyond the use of fossil fuels, most importantly stopping the reliance on Russian imported fertiliser.
“This partnership sets Kenya on a path to industrial decarbonisation and we are determined to be with the people of Kenya on that journey, every step of the way,” Forrest said.
Australia’s Chargé d’affaires a.i. to Kenya, Linda Gellard, said, “Today’s agreement is a significant contribution to Australia’s long-term engagement with Kenya and the region. The Australian Government welcomes this ground-breaking partnership, providing a high-quality blueprint for others to follow.”
The Investment Support and Implementation Agreement further entrenches FFI’s commitment to fast-track its engineering and environmental studies, as well as early procurement for the development of the industrial facilities whilst the Kenyan Government affirms its commitment to support the promotion, facilitation, and protection of FFI’s investment.
