Geothermal Energy: a high risk but worthy investment.

by Sophie Mbugua

Today we are talking about the Scaling Up Renewable Energy Program in Low-Income Countries (SREP) funded by the Strategic Climate Fund. the Strategic Climate Fund is one of the two Climate Investment Funds (CIF). The funds are channelled through five multilateral development banks. SREP has been financing the scaled-up deployment of renewable energy solutions aimed at increasing energy access and economic opportunities.Listen to Jimmy Pannet an energy specialist at the Climate Investment Funds elaborate on SREP.

Also listen to other episodes from the green economy series.

Covid-19 has impacted energy consumption in Kenya. Paul Ngugi, the Geothermal Development Company regional manager, says with almost 2800 MW installed capacity available to the consumers, a peak demand of nearly 2000 MW. With many power plants ready for commissioning, Kenya is producing more energy than it can use. Despite the home user’s connectivity increasing, there is a need for the county to expand in energy demand and invest in more energy users, preferably industrial users.

Later, in the show, Paul Ngugi, the Geothermal Development company regional manager, will tell us about geothermal explorations in Kenya and the 1600 MW Menengai Geothermal Project, funded by SREP.

This Episode is part of financing change in Africa series made possible by a collaboration between  the continent’s premier development finance institution – the African Development Bank Group, the Climate Investment funds and the Africa Climate Conversations. 

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