[Kenya] KenGen gets the nod to sell four million tonnes of carbon credits
Kenya Electricity Generating Company PLC (KenGen) has been cleared to sell an equivalent of 4.6 million tonnes of carbon emissions earned over the last 18 months.
This follows the finalization of the verification of the issuance of a cumulative 4,617,309 tonnes of Carbon Emissions (CO2e) to six KenGen projects by the United Nations Framework Convention on Climate Change (UNFCCC).
This decision was arrived at after issuance of the latest 2,025,813 tonnes of Carbon Emission Reductions (CO2e) to the 150MW Olkaria IV Geothermal Project which was the last of the six projects which KenGen applied for verification through the UNFCCC.
The announcement comes hot on the heels of the issuance of 2,040,515 tonnes of CO2e to KenGen’s Olkaria I, Units 4 and 5 Geothermal Power plant by the UNFCCC on 17th August 2021.
In a statement to the newsrooms, KenGen Managing Director and Chief Executive Officer, Mrs. Rebecca Miano hailed the UNFCC’s issuance of the carbon credits to KenGen as a boost to the company’s lead in climate action not only in Africa but in the world.
Mrs Miano said, “KenGen has so far developed and registered Six (6) Clean Development Mechanism (CDM) Projects comprising of Olkaria II Geothermal Expansion Project, Redevelopment of Tana Hydro Power Station Project, Optimisation of Kiambere Hydro Power Project, Olkaria IV Geothermal Project, Olkaria I Units 4&5 Geothermal Project and Ngong Wind.”
The first KenGen project to be issued with carbon credits under the CDM initiative was the Tana hydroelectric power project which received 57,458 carbon credits on 13th March 2020.
“As a way of enhancing our portfolio of climate change mitigation projects, KenGen intends to incorporate additional geothermal, wind and solar projects which will reduce between 100,000 to 600,000 tonnes of carbon dioxide emissions every year, in the process reducing the impact of climate change on the environment.” She added.
The CDM projects contribute to national sustainable development by providing clean energy which ensures improved environmental quality, positive health impacts and increased productivity. CDM was developed as part of the output of a global concern to contribute to climate change mitigation and to foster sustainable development for non-industrialized countries.
KenGen has deliberately shifted its strategy to focus on the production of green energy and currently more than 86% of the energy produced by the Company is from clean sources namely wind, hydro and geothermal.
Thanks to KenGen’s efforts, Kenya is today Africa’s largest geothermal energy producer and among the top 10 in the world. The country has an estimated potential of 10,000MW of geothermal along the Rift Valley.
As a way of enhancing its portfolio of climate change mitigation projects, the Company intends to incorporate additional geothermal, wind and solar projects which will further reduce carbon emissions annually, in the process reducing the impact of climate change on the environment.