Power producer KenGen renews Carbon Credits Scheme with UNFCCC

Image: Think GeologyEnergy

KENYA – Electricity generator Kenya Electricity Generating Company (KenGen) has renewed its registration of the Olkaria II 35 MW expansion under the Clean Development Mechanism.

The project was first registered under the CDM scheme in 2010.

A World Bank report describes the project as “the first CDM project to issue Certified Emission Reductions (CERs) in Kenya.”

With estimated certified emission reductions (CERs) of 78,640 metric tonnes carbon dioxide (CO2) equivalent per annum, KenGen expects 550,480.00 metric tonnes CO2 equivalent with potential earnings of USD 1,100,960 based on a conservative market value of 2USD/ton of CER during the extended period, up to 2024.

The move follows a decision by the United Nations Framework Convention on Climate Change (UNFCCC) to renew the power plant’s expansion CDM Project.

KenGen Managing Director & CEO, Rebecca Miano, said the objective of the Olkaria II Geothermal Expansion Project was to increase the capacity of the existing Olkaria II Geothermal Power Plant by adding a third power generation unit with a capacity of 35MW which started operation in 2010.

Kenya has a high geothermal resource potential of around 10,000 MW along the Kenyan Rift Valley.

Kenya Electricity Generating Company PLC, KenGen is the leading electric power generation company in Kenya, producing about 75 percent of electricity.

The current installed geothermal capacity in Kenya is 745 MW, with most of it in the Olkaria fields.

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