Electric vehicle company to open plant in geothermal green park in Olkaria

Prime Cabinet Secretary Musalia Mudavadi joins senior government officers during the ground breaking of the Olkaria Eco-cloud data center in Kengen Industrial Park in Naivasha. [Antony Gitonga, Standard] The Kenya Electricity Generating Company (KenGen) plan to attract investments at its Green Energy Park at Olkaria has received a major boost with an electric vehicle company set to start a manufacturing plant this week. KenGen has set aside a 342-hectare piece of land at its Naivasha-based rich geothermal fields, where it seeks to attract major investments planning to tap into its steady and cost-friendly geothermal power. According to CS for Energy and Petroleum, Opiyo Wandayi, an EV company is set to break ground for local manufacturing of climate-smart units, creating over 3,000 direct jobs. He said that by tapping clean energy, investors will accelerate the government's sustainable development agenda at the established Special Economic Zones. "An Electric Vehicle (EV) company will break ground for a manufacturing plant that will create 3,000 direct jobs and 10,000 indirectly for our local youths," said Wandayi. Speaking in Olkaria, Naivasha, during the closing of the three-day Sustainable Energy Conference, Wandayi said Kenya was at the forefront in championing and accelerating access to affordable power. The announcement comes after the government also signed a USD 1 billion deal with Microsoft and G42 for the construction of a state-of-the-art and modern data centre at the park. He acknowledged Kenya's role in the Vision 300 project, which seeks to connect 300 million Africans to electricity by the year 2030 through USD 90 billion in funding. To this effect, Wandayi said the government is finalising the drafting of the Energy Compact Policy, which seeks to drive, prioritise and achieve sustainable energy goals. Wandayi called upon global partners to support Kenya in achieving its long-term objectives of ensuring 100 percent transition to clean energy by the year 2030. The CS said Kenya seeks to drive its renewable energy footprint in wind, solar and geothermal through Public-Private Partnerships (PPP), regional integration and tapping modern innovation. "The government seeks to tap private players to enhance innovation that will ensure the use of smart energy grids, efficient energy storage and cheaper energy solutions." KenGen Managing Director, Eng. Peter Njenga, is committed to the company's goal of accelerating geothermal power expansion, where it seeks to add an extra 1,500 MW of clean energy by the year 2034. He said the plans will be achieved through blended financing and leasing, which will ensure bankable projects and meet the country's rising power demands. "KenGen commits to act as a catalyst for a just transition and inclusive energy transition that advocates for green growth over fossil dependency," said Njenga. KenGen Board Chairman, Alfred Agoi, called for pathways towards more partnerships in clean energy financing and transition, noting that "clean energy is the lifeblood for sustainable development." He said the company is already investing in research and tapping modern technology that will inform future investments in expanding renewable energy sources.

Electric vehicle company to open plant in geothermal green park in Olkaria

Get Full Access for Ksh299/Week.

Related Topics

Similar Articles

Latest Stories

The Standard Insider

Digger Classified

GET OUR NEWSLETTER

CONNECT WITH US

FOR THE LATEST JOB ADVERTS

Similar Articles

Why AI is gaining prominence in Africa's new investment agenda

The power of patience, psychology and strategy in debt recovery

Motivational speakers: When they sell you false business hopes

Africa Summit win for Kenya and continent, but on whose terms?

DIGGER JOBS

Digger Motors

Digger Real Estate

Electric vehicle company to open plant in geothermal green park in Olkaria

Get Full Access for Ksh299/Week.

Related Topics

Similar Articles

Latest Stories

The Standard Insider

Digger Classified

GET OUR NEWSLETTER

CONNECT WITH US

FOR THE LATEST JOB ADVERTS