Kenya: EIB Commits to Support KenGens Green Energy Projects

Kenya Electricity Generating Company (KenGen) today hosted the Vice President of the European Investment Bank (EIB), Mr. Thomas Östros at the Olkaria Geothermal Power Plant.

The visit showcased the longstanding partnership between KenGen and EIB and explored potential areas of partnership for future collaboration.

“The European Investment Bank is committed to accelerating renewable energy across Africa and has supported visionary geothermal investment by KenGen here at Olkaria over the last 41 years,” said Thomas Östros, Vice President of the European Investment Bank. 

Mr. Östros described Olkaria as a model for renewable energy for the rest of the world which he said had embraced renewable energy helping to reduce the impact of global energy shocks in Kenya and reduce carbon emissions on a global scale.

The visit comes at a time when Kenya is keen on deploying renewable energy as the country makes progress towards achieving a 100% transition to clean energy by the year 2030.

During the visit, the EIB Vice President was given a tour of the recently commissioned 86MW Olkaria I Additional Unit 6 Geothermal Power Plant that is currently supplying the nation with additional renewable energy.

The visit also provided an opportunity for both parties to explore potential areas of partnership mainly focusing on green energy projects which will not only help stabilize the electricity supply in Kenya but also help in the global climate action agenda.

The EIB delegation was hosted by KenGen Ag. Managing Director and CEO, Mr. Abraham Serem who welcomed the visit by the Vice President of EIB and expressed gratitude for the support that EIB had provided to KenGen over the years which he said has gone a long way in putting Kenya on the global map as a renewable energy leader.

EIB Global  is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within  Team Europe , alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our  offices across the world . 

Kenya Electricity Generating Company PLC - KenGen is the leading electricity generation company in the Eastern Africa region with an installed generation capacity market share of more than 60%. The company’s primary business is to provide safe, reliable, and competitively priced electric energy for the country in an environmentally friendly and sustainable manner while creating value for its stakeholders.