Sharp Daily
No Result
View All Result
Wednesday, May 14, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Kenya, Britain see gains from COP27 climate projects

Brian Murimi by Brian Murimi
December 5, 2023
in News
Reading Time: 2 mins read

Flagship climate projects fast-tracked between the UK and Kenya have reached key milestones, the British government announced Tuesday.

Multiple clean energy and agriculture initiatives launched at last year’s COP27 in Egypt have made notable progress over the past year, according to British High Commissioner to Kenya Neil Wigan.

“It is a sign of the strength of the UK-Kenya Strategic Partnership that these three projects have reached new milestones by COP28,” Wigan said. “The UK and Kenya are going far and going together.”

The KES 12.5 billion Menengai Geothermal project near Nakuru, which will generate 35 megawatts of electricity, is proceeding to financial close. Construction on the wind farm, which will provide 750,000 Kenyans with clean energy and create 200 local jobs, is expected to begin shortly after financing is secured.

RELATEDPOSTS

Kenya’s moral commitment amid the rising refugee population

May 12, 2025

Kenya’s import cover hits 5.1 months as forex reserves surge

March 19, 2025

A KES 31 billion agreement has also been reached between the Kenyan Development Corporation and UK-funded investor United Green to establish a climate-smart agriculture zone larger than Nairobi National Park. The project is projected to save Kenya £180 million annually on food imports.

The deals are part of six agreements totaling KES 500 billion struck by Kenyan President William Ruto and British Prime Minister Rishi Sunak at the 2022 U.N. climate conference. They aim to support Ruto’s Africa Green Industrialisation Initiative while creating sustainable jobs and economic growth.

Wigan said the investments “unlock mutual benefits for the UK and Kenya” without overburdening Kenya with debt.

Separately, British International Investment announced KES 1 billion in new funding for Kenyan solar irrigation and electric bus projects.

A KES 321 million solar irrigation initiative will provide water-efficient systems to 9,000 local farmers. The upfront cost will be reduced 25% to 40% through an innovative carbon credit program.

“The solar-powered irrigation systems will help increase farmers’ incomes as well as build their resilience to climate change impacts,” read a statement on the government of UK website.

An additional KES 765 million will support the manufacture of 100 electric buses in Kenya to meet demand for affordable clean transport while cutting annual carbon emissions by 5,000 metric tons.

Previous Post

Central Bank raises benchmark rate to 12.5% to fight inflation

Next Post

Solar irrigation, e-buses big winners in UK-Kenya climate pact

Brian Murimi

Brian Murimi

Brian Murimi is a journalist with major interests in covering tech, corporates, startups and business news. When he's not writing, you can find him gaming, watching football or sipping a nice cup of tea. Send tips via bireri@thesharpdaily.com

Related Posts

Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025
News

Butere girls teacher accused of altering play script with political content

April 14, 2025

LATEST STORIES

Retirement planning for non-salaried workers with CPRBS

May 14, 2025

How AGOA and EPZs can transform Kenya’s trade

May 14, 2025

Safaricom forecasts earnings boost as Ethiopian losses shrink

May 14, 2025

Why Kenya must rebuild it’s textile legacy

May 14, 2025

Structuring private equity deals in Kenya

May 13, 2025

Money market funds: Smart saving and investing in Kenya

May 13, 2025

Kenya in May: Safari, coastline & deals you shouldn’t miss

May 13, 2025

Public Health Spending expected to grow in line with ethical development goals

May 13, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024