Yesterday (6 October), the British High Commission, in conjunction with Barclays Bank of Kenya, hosted an event in Nairobi which brought together leading players in the local renewable energy sector with investors from the United Kingdom.
The UK-Kenya Renewable Energy Conference (#REC100) aimed to secure investment into Kenya’s growing renewable energy sector, building a strong pipeline of deals to accelerate the nation’s pace of affordable electrification.
The Conference brought together 100 representatives from Kenyan and British firms across a range of low carbon solutions. Speakers included Energy and Petroleum Principal Secretary Joseph Njoroge, British High Commissioner to Kenya Nic Hailey, CEO of Barclays Kenya Jeremy Awori, and Lord Clive Hollick the UK Prime Minister’s Trade Envoy to Kenya and Tanzania.
— Barclays Bank Kenya (@Barclays_Kenya) October 6, 2016
The collaboration between the UK and Kenyan renewable energy sectors is underpinned by a Memorandum of Understanding (MoU) signed between the Governments in May of 2016, which saw the UK commit Ksh 70 billion to support the development of strategic renewable energy projects in Kenya.
The MoU also promotes opportunities for private sector trade and investment by the UK in Kenya’s renewable energy sector.
“The UK and Kenya are at the vanguard of renewable energy, clean technology and innovation. Kenya has one of the most active renewable energy sectors in Africa, and the UK is a global leader in many of the sectors for which Kenya has greatest demand.
“We are excited by this growing UK-Kenya partnership in renewables, working together to bring clean, sustainable energy to the Kenyan people and accelerate Kenya’s development and economic growth.” – British High Commissioner, Nic Hailey
Kenya’s energy sector has experienced strong growth over the past decade with the country bringing online 576MW of new base load capacity since 2013.
This increased energy production has coincided with higher grid connectivity, improving Kenya’s grid electricity access rate from 27% in 2012 to 55 % in 2016.
— Nic Hailey (@HCNicHailey) October 6, 2016
Despite this, the country still has a low electrification rate by development standards, meaning that more power projects must be developed in order to meet demand, achieve the Government of Kenya’s targets and deliver accessible pricing.