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A local energy firm has lost out on a multibillion shilling carbon credits deal with the Kenya Electricity Generating Company (Kengen) due to soured relations from a near similar deal last year.
Sintmond Group, which describes itself as an energy solutions company, has lost on a bid to buy 6.38 million Certified Emission Reductions (CERs) that Kengen had offered for sale through a competitive tender. This was despite Sintmond having emerged as the highest bidder having offered to buy the carbon credits at Sh2.99 billion, Sh400 million than the second highest bidder which ended up bagging the deal.
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