This archive report was first published on 10 December 2019.
Kenya's emergence as an attractive destination for clean energy investments has led to a surge in new offers to develop electricity plants, with the potential to double the country's generating capacity.
According to a report by BloombergNEF, investors have shown significant interest in Kenya's clean energy sector, with new investments focused on solar, wind, and geothermal energy.
In 2018, clean energy investment in Kenya reached a record high of $1.4 billion (Sh140 billion), with the Lake Turkana Wind Power plant being one of the key projects completed that year.
However, concerns over oversupply are stalling approvals for new power plants, with the installed power generating capacity already in surplus.
The Ministry of Energy has recently stated that it will balance demand and supply as well as costs in approving new power plants.
Kenya has been ranked as the fifth most attractive destination for investors looking to invest in green energy, trailing only Indian, Chile, Brazil, and China.
