UK, Kenya agree to expedite $4.1 Billion of Climate projects

The new, clean and green investments will become flagship projects of the UK-Kenya Strategic Partnership – an ambitious five-year agreement that is unlocking mutual benefits for the UK and Kenya

By EB Content Studio  

The UK and Kenya will accelerate the implementation of climate projects worth 500 billion shillings ($4.1 billion) in the East African nation.

The money will be spent on a dam on Tana River to support the generation of One gigawatt of power and provide water to irrigate 400,000 hectares of farmland, the UK government said in a statement following a meeting between Prime Minister Rishi Sunak and Kenya’s President William Ruto at the international climate summit in Sharm el-Sheikh, Egypt.

These new, clean and green investments will become flagship projects of the UK-Kenya Strategic Partnership – an ambitious five-year agreement that is unlocking mutual benefits for the UK and Kenya.

The projects include a Sh425 billion Public Private Partnership investment to deliver the Grand High Falls Dam, which will generate 1,000MW of hydroelectric energy capacity and irrigation for 400,000 hectares of farmland; the Malindi Solar Expansion to double the size of Malindi Solar and add battery storage – an additional KES 7.5 billion investment – making over KES 15 billion total; and Menengai Geothermal, a 35 MW geothermal project led by GDC and Globeleq which will mark the full development of a field discovered by GDC.

Others are a green regeneration of central Nairobi, anchored around a new central rail station connected to Bus Rapid Transit, incorporating the latest innovations in green building technology and planning. The project has been developed with technical assistance from the UK Government and UK architects (Atkins) won the contract to design the new station. Finally is a Ksh. 31 billion investment dubbed the United Green, which is a Climate-smart crop and agro-industrial processing system via a joint venture with Kisumu County that will create 2,000 direct jobs and provide an income for a further 20,000 farmers across counties the Lake Victoria region.

The UK Government will further commit Sh2 billion to a new guarantee company that will lower investment risk and unlock Sh12 billion of climate finance for Kenyan projects over the next 3 years, through collaboration with CPF Financial Services and other private investors.

The Prime Minister praised President Ruto’s pioneering climate leadership and urged Kenya to continue along the path of green growth, urging all countries to deliver on the commitments made at COP26 in Glasgow.

Throughout its COP26 Presidency, the UK has worked with partners across Africa to deliver and build on the Glasgow Climate Pact, and to see commitments made at COP26 turned into action. For example, in Kenya since COP26 £5.4m has been committed and £2.8m will be spent to support Kenya’s energy transition, unlocking private sector investment in forest protection and the Kenyan Government’s ambitious 10% forest cover target.

In her remarks, British High Commissioner to Kenya Jane Marriott, said the UK and Kenya go far when we go together. “By fast-tracking finance into these clean, green projects with honest, reliable investment the UK is supporting Kenya to advance and maintain its continent-leading climate credentials – with mutual benefits for both our countries.”

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