International Finance
Energy Featured

Kenya seeks to increase efforts in renewable energy

Kenya renewable energy
Currently, Kenya records total hydropower capacity of 743 megawatts

Kenya is seeking to focus more on its renewable energy capacity. The country is hoping to capitalise on renewable energy for the continent’s greater benefit, media reports said.

It is reported that Kenya currently records total hydropower capacity of 743 megawatts. Hydropower in the country has received a lot of attention since its independence, in addition to other renewable sources. In 2018, Kenya set an ambitious target to increase its share of renewable energy in its electricity mix by 2020, media reports said.

Last month, the Rural Electrification and Renewable Energy Corporation (REREC) partners with SAP Ariba to increase renewable energy distribution across the country. The partnership has led to the launch of Project Platinum. This partnership is expected to hugely benefit REREC in many ways. With that, RERC will be complying with one of Kenya’s official directive which states that all public companies must move to electronic platforms to make the most of advanced technologies.

For Africa, Kenya is spearheading the renewable energy sector with more than 70 percent of its electricity production sourced from geothermal energy.

Globally, nearly three-quarters of new electricity generation capacity built last year sources renewable energy. According to the International Renewable Energy Agency (IRENA), solar, wind, and other renewables cover more than one-third of the world’s power.

Francesco La Camera, director-general of Irena, told the media, “While the trajectory is positive, more is required to put global energy on a path with sustainable development and climate mitigation. At this challenging time, we are reminded of the importance of building resilience into our economies.”

What's New

Morgan Stanley’s wealth management division faces regulators’ heat

IFM Correspondent

Ports in Oman show strong growth in 2023-2024

IFM Correspondent

Start-up of the Week: Auterion & software-defined future of UAV industry

IFM Correspondent

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.