European Investment Bank Commits To Support KenGen’s Green Energy Projects

 

KenGen Ag. MD & CEO Abraham Serem and European Investment (EIB) Bank Vice President Thomas Östros (R) during a tour of the 86MW Olkaria 1 AU 6. PHOTO| COURTESY

By Citizen Reporter

The European Investment Bank (EIB) has committed to support the acceleration of the use of renewable energy across Africa.

Speaking during a visit of the Olkaria Geothermal Power Plant in Kenya, Vice President of the European Investment Bank Thomas Östros hailed the use of renewable energy saying it has helped reduce the impact of global energy shocks and carbon emissions on a global scale.

“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 Östros

The visit by the European Investment Bank VP comes when is keen on deploying renewable energy as the country makes progress towards achieving a 100% transition to clean energy by the year 2030.

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.