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Bloomberg ($): Kenya’s securities exchange has moved a step closer to requiring companies to start Environmental, Social and Governance, or ESG, disclosure and introducing an index for the category. The Nairobi Securities Exchange published its ESG guidance manual on Monday, with a view of aligning information reported by companies listed in Kenya with international standards. […]
The Guardian: Twenty-four countries and a group of leading car manufacturers have committed to ending the era of fossil-fuel powered vehicles by 2040 “or earlier”, in a major new commitment set at Cop26. The agreement to sell only zero-emissions vehicles from this time, unveiled at the UN climate summit in Glasgow on Thursday, includes Canada, […]
Reuters: Ukraine, Fiji, Colombia, Kenya and Mali will be the first countries to participate in an investment program announced on Thursday that will help developing countries transform their power grids to carry growing levels of renewable energy. The Climate Investment Funds (CIF), created by the world’s biggest economies in 2008 to help developing countries accelerate […]
ReNews.biz: Swedish-based impact investment platform Trine is collaborating with Solarise Africa, a pan-African energy leasing company, to invest in renewable projects on the continent. The first debt financing round provided by Trine will finance five solar projects in South Africa and Kenya. Demand for on-site renewable energy assets is growing rapidly as businesses are faced […]
Nation: The National Environment Management Authority (Nema) will next week start a major crackdown on single-use plastic bags across the country. This comes after the authority expressed concern that some traders are still sneaking the commodity into the country despite its ban in 2017. Nema Director-General Mamo Boru said the war on the single-use plastic […]
Bloomberg ($): When Kenya opened the Olkaria power plant four decades ago, it was considered more research project than commercial venture. Located in Hell’s Gate National Park, a barren zone of volcanic rock permeated by sulfurous gases and populated mostly by warthogs and zebras, the facility generated electricity using steam rising from deep in the […]
Bloomberg Quint: China’s biggest bank dumped a plan to finance a $3 billion coal-fired power plant in Zimbabwe, dealing a blow to coal developers in Africa that see the Asian country as the last potential funder of their projects. Industrial and Commercial Bank of China Ltd. told Go Clean ICBC, an ad-hoc body representing 32 […]
Bloomberg ($): Kenya Electricity Generating Co., Africa’s geothermal pioneer, plans to raise $1.95 billion to build new, and upgrade existing plants in a bid to almost double its power output from the renewable fuel. KenGen, as the Kenyan state-owned company is known, plans to add 651 megawatts from underground steam in the next five years, […]
Wall Street Journal ($): The electric-car revolution is reaching the streets of Africa. A handful of startups in several countries are building small electric-vehicle fleets of light carriers and motorcycles—vehicles well suited for the continent’s challenging roads—for taxi and delivery services. In February, Kenya-based ARC Ride launched electric two- and three-wheelers for Uber Eats deliveries […]
ESI Africa: Renewables supplied only a third of Africa’s electricity demand growth in 2020 according to energy think tank Ember’s The Global Electricity Review. The Global Electricity Review showed that wind and solar showed resilient growth in 2020, despite the COVID-19 pandemic. While this forced a record fall in global power figures, this was not […]
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IEEFA report: The Lamu Coal Plant will hinder, not spur, economic growth in Kenya
Misdirected assumptions about construction, capacity, and costsJune 10, 2019 (NAIROBI) – The proposed Lamu coal plant in Kenya, a three-unit, 981-megawatt (MW) facility, would be a costly mistake, locking the country into a 25-year deal at a cost to consumers of more than US$9 billion, even if the plant never generates any power, according to a report released today by the […]