This archive report was first published on 19 September 2019.
Published on September 19, 2019, a report by the United Nations Environment Programme (UNEP) revealed that Kenya was a top destination for renewable energy investments in 2018.
The country ranked third in the Middle East and Africa region, with $1.4 billion (145 billion) invested in renewable energy projects. This investment was split between geothermal, wind, and solar power, with the largest deals being the $366 million KenGen Olkaria I unit 6 geothermal plant and the $333 million Actis Kipeto wind farm.
Kenya's push for renewable energy is driven by the desire to increase cheap and green energy, reducing reliance on expensive thermal power. Wind power, for instance, sells at Sh8 per kilowatt-hour (kWh), compared to Sh15 for thermal power.
The Middle East and Africa region saw a significant increase in capacity allocations, with a 61% jump to $16.1 billion in 2018. South Africa, Morocco, and Kenya were among the top three countries to attract over $1 billion in investments.
