Kenya utility joins global emissions project, plans carbon trade
Kenya Electricity Generating Co, Africa’s largest geothermal producer, joined a United Nations-backed emissions-reduction programme as it looks to begin a domestic carbon market.
KenGen, as the State-run company is known, announced its participation in the Business Ambition for 1.5 °C programme on Wednesday. Under the project, the company commits to emission-reduction targets through investments in green and clean energy to help combat global warming, as per the 2015 Paris Agreement guidelines.
The announcement bodes well for a plan by the company and the East African government to introduce carbon trading on the local bourse. Kenya is in the advanced stages of establishing a National Carbon Credits and Green Assets Registry, under which its emissions trading system will operate, National Treasury Secretary Ukur Yatani said last month.
The Capital Markets Authority and the Nairobi Securities Exchange held talks with KenGen to start carbon trading on the derivatives segment of the market this year.
“Our intention is to be able to sell the Certified Emission Reductions in the market by Dec. 2021, depending on demand,” MD Rebecca Miano said in response to emailed questions.
KenGen is able to generate 1 803 MW of electricity, almost two thirds of Kenya’s installed capacity. Of that, 705.5 MW is geothermal energy produced by the company.
Six of KenGen’s projects, including geothermal, hydro and wind power plants, are registered under the Clean Development Mechanism, from which the UN aims to allow projects in developing countries earn emission-reduction credits. The company has recorded about $3.6-million in carbon revenue since it started registering its projects in 2010.
Comments
Research Reports
Latest Multimedia
Showroom
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
