In the deals, Kenya will collaborate with Fortescue for a green ammonia project, boosting energy security and cutting reliance on imports.
This will provide Kenya with additional energy security that steps beyond the use of fossil fuels, and more importantly stops a reliance on imported fertilizer.
President William Ruto during the launch of the Africa Green Industrialisation Initiative (AGII) on Saturday.
President William Ruto during the launch of the Africa Green Industrialisation Initiative (AGII) on Saturday.
Image: PCS
The government has secured a $4.48 billion (Sh682,496,192,000 billion) deal for Green Development projects at the COP28 summit.
The deals were announced during the launch of the Africa Green Industrialisation Initiative (AGII) on Saturday.
In the deals, Kenya will collaborate with Fortescue for a green ammonia project, boosting energy security and cutting reliance on imports.
This will provide Kenya with additional energy security that steps beyond the use o fossil fuels, and more importantly stops a reliance on imported fertilizer.
“The partnership sets Kenya on a path to industrial decarbonization.”
Fortescue will work together with the Kenya Government to educate and upskill the next generation of workers for the green transition.
The deal is worth $1.5 billion.
The second deal will see Kenya through the Konza Metropolis and KenGen develop an ICT Data Storage industry using green energy from Geothermal.
EcoCloud, as an investor with KenGen and Konza partnership, plans a 200MW data centre infrastructure outlay at an investment cost of USD 1.5 billion.
Konza city is responsible for the development of the required infrastructure while together with KenGen are determined to bring on board investors.
In this project, $600 million has been secured.
Kenya has also partnered with Indonesia and Masdar to build a 300MW geothermal project.
This partnership seeks to leverage on the strengths of both countries, through technological tranfer, capacity building, enhancement in policy, legal and regulatory frameworks, and mutual investment in geothermal resource development.
It comes with an initial investment of $1 billion.
The government has also partnered with Globeleq to develop a 35MW geothermal project in Menengai. This will come for $110 million and will take 24 months to complete.