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Climate Investment Funds

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Kenya receives $ 46.39 million kitty to go towards renewable energy expansion

The Climate Investment Funds (CIF), managed by the World Bank, announced on Wednesday that it has extended $46.39 million (Sh7.38 billion) to Kenya to enhance the country’s utilization of renewable energy. Luis Tineo, the interim CEO of CIF, said that the concessional funding will support investments aimed at improving electricity dispatch and grid stability, enabling Kenya to harness more solar and wind power sources. According to the Ministry of Energy in Kenya, nearly 90 percent of the country’s energy comes from renewable sources, with 45 percent from geothermal and 26 percent from hydropower. The ministry said that this plan will aid Kenya in its goal to achieve 100 percent clean energy in the power system by 2030 and position it on the path to achieving Net Zero by 2050. Keith Hansen, the World Bank’s country director for Kenya, said that Kenya is a frontrunner in the transition to 100 percent clean energy by 2030, ensuring universal access to electricity at the earliest. “The World Bank is supporting the government of Kenya in developing a smart and flexible energy system that makes these ambitions possible.” https://www.capitalfm.co.ke/business/2024/02/kenya-receives-sh7-38bn-from-world-bank-for-renewable-energy-expansion/

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  • George Kariuki

    10 w

    This initiative aligns with Kenya's ambitious goals of achieving 100% clean energy by 2030 and net zero emissions by 2050, demonstrating their commitment to climate action.

    2
    • We Don't Have Time

      11 w

      Dear Esther Wanjiku Your climate love has received over 50 agrees! We have reached out to Climate Investment Funds by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

      2
      • walter lungayi

        11 w

        Great news for Kenya's renewable energy sector! This funding will help boost the country's efforts to expand its renewable energy sources and reduce reliance on fossil fuels.

        4
        • johnte ndeto

          11 w

          Such funds will be of great importance towards renewable energy and it's sustainability

          6
          • Gorffly mokua

            11 w

            While it is positive that Kenya is receiving investment in renewable energy expansion, it is important to ensure that this investment is used to support sustainable development.

            5
            • Felix mokaya

              11 w

              @gorffly_mokua Very true !Hope there will be no regrets.

              1
            • Elizabeth Gathigia

              11 w

              Good news, hope the funds will be well managed

              6
              • Gorffly mokua

                11 w

                @elizbeth_gathigia Accountability is the biggest challenge we have in Kenya!

                3
              • Joseph Githinji

                11 w

                This is a noble investment towards creating a sustainable environment.

                5
                • Felix mokaya

                  11 w

                  It is very thoughtful of World bank to support the government Kenya in developing smart and flexible energy system .This is so encouraging .

                  9
                  • Joseph Githinji

                    11 w

                    @felix_mokaya With such funds invested in the right projects we are assured of a sustainable future.

                    10
                    • Gorffly mokua

                      11 w

                      @joseph_githinji @World bank should ensure that the government of Kenya directs this funds to the right investments .

                      4
                    • Princess

                      11 w

                      Kudos to Kenya for actively pursuing initiatives that align with global sustainability goals.

                      5
                      • Joseph Githinji

                        11 w

                        @princess_nel_268 This is a big stride in the right trajectory for Kenya.

                        5
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