The Kenyan government has said that international investors are becoming interestingly active in the country’s liberalised energy sector, developing geothermal and wind power projects to earn carbon credits.
Kenya is seeking to diversify its generation sources away from hydropower’s current dominance, since recent droughts in East Africa have left the country short of supply.
The World Bank is a key financier of these investments, and is focusing its efforts on the expansion of geothermal power and wind power plants.
Raila Odinga, Kenya’s prime minister, said that currently, the country was only exploiting 200 MW of geothermal capacity, compared with a 7000 MW potential. He confirmed that with investments of $18bn, 5000 MW of geothermal power could be developed.
Currently, the World Bank is supporting the development of the 84 MW geothermal plant in Olkaria, which will be the first private geothermal power plant in sub-Saharan Africa, set for completion in 2013.
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