Kenya targets African Development Bank to back coal project
SEE ALSO :Natembeya assures landowners on paymentsThe project, which was expected to start in December 2015, was delayed by environmental lobby group Save Lamu Natural Justice, which appealed to the Energy Regulatory Commission (ERC) to delay issuing Amu Power an electricity generation licence for the project. ERC disallowed the objection last year, setting the stage for the rolling out of the project using coal power at a time when there is a global concerted effort to cut carbon emissions. Muhammadu Sanusi II, the Emir of Kano and a former governor of Nigeria's central bank who is attending the 2018 annual meeting, said Africa should be allowed to use coal-fired power if it is to develop like the West, which still largely relies on coal. American multinational conglomerate General Electric recently joined the consortium of firms that have packaged the Amu Power deal, including the Chinese Gulf Energy and investment firm Centum. Amu Power said the agreement with General Electric will see the American firm acquire a Sh50 billion stake in Amu Power through its affiliates, subject to obtaining regulatory, board and lender approval.
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