COP29: Kenya secures over Sh9b, wins praise for renewable energy plans
Environment & Climate
By
Mactilda Mbenywe
| Nov 14, 2024
Kenya has secured substantial international support and funding to advance its green energy agenda.
Danish Prime Minister Mette Frederiksen yesterday announced a commitment of more than Sh9 billion to support Kenya’s renewable energy sector, at a session with the Kenyan delegation.
Denmark also pledged to share expertise in energy efficiency and stable grid development, key areas for building reliable energy infrastructure.
The $70 million funding aims to drive private investment in solar, wind and green infrastructure projects, directly contributing to the country’s goal of becoming a leader in sustainable energy.
“Africa’s renewable potential is undeniable, ="https://www.standardmedia.co.ke/environment-climate/article/2001506321/cop29-confronts-alarming-climate-data-as-global-stakes-rise">yet investment has lagged<. This partnership with Kenya aims to change that,” said Frederiksen at the ongoing COP29 in Azerbaijan.
Prime Cabinet Secretary and Foreign Affairs Minister, Musalia Mudavadi, said the country was focused on sustainable energy and its role in leading Africa’s climate adaptation efforts.
The US also reinforced its support through an investment partnership focused on electric vehicles (EVs) in Kenya. “This partnership will strengthen Kenya’s EV sector, creating thousands of jobs and accelerating green mobility in East Africa,” said Senior Climate Advisor John Podesta.
The International Development Finance Corporation recently issued a $10 million loan to a Kenyan company to produce 3,000 electric buses over three years.
Despite Africa holding an estimated 60 per cent of the world’s mineral resources, which are essential for renewable technologies, the continent receives less than 2 per cent of global renewable energy investments.
The summit was told that this disparity is a missed opportunity, as Africa has vast potential for solar, wind and geothermal energy.
Speakers at a session titled “Africa’s Green Momentum: Harnessing Renewables for Industrialization” on the second day of COP29 organised by Kenya, IRENA and the NDC Partnership obseved the urgency of closing this gap, noting that harnessing Africa’s resources could accelerate the continent’s transition to clean energy and support global climate goals.
“Just a few weeks ago, APRA hosted the first investment forum in Kenya resulting in projects worth $2.6 billion across the countries,” said Mudavadi.
Frederiksen also noted in investment imbalance. “When ="https://www.standardmedia.co.ke/environment-climate/article/2001506301/cop29-climate-disaster-fund-for-poor-countries-ready">I saw that Africa receives< less than 2 per cent of global investments in renewables, I thought it was a mistake. We need to close this gap—and we need to do it quickly.”
Other international leaders also observed Kenya’s potential to be a renewable energy hub. Zambia’s Minister for Green Economy Mike Elton Mposha praised Kenya’s leadership in renewable industrialisation and called for more collective action among African nations.
“Kenya’s commitment to green energy sets an example for the continent,” said Mposha.
Denmark is actively involved in establishing green shipping routes in Africa, aiming to reduce fossil fuel dependence for maritime transport.
Frederiksen recalled a previous visit to Africa, where she observed power outages disrupting education. “Energy reliability is essential for productivity.”
She also announced Denmark’s support for green shipping corridors in Africa, with initiatives already underway in Namibia and Ghana.