Kenya Secures $4.48 Billion Green Development Deal at COP28 Summit
Key Ideas
  • Kenya secures a $4.48 billion deal for green development projects at the COP28 summit in Dubai, focusing on initiatives like Green Hydrogen production and ICT Data Storage industry.
  • Partnerships with companies like Fortescue Future Industries and AMEA Power will enhance Kenya's energy security and promote sustainable practices.
  • The projects include a Green Fertiliser Project utilizing geothermal steam, a 200MW Paka Geothermal field construction, and a sustainable agriculture project in the Lake Basin Region.
  • The government's commitment to green initiatives showcases Kenya's dedication to sustainable practices and innovation in various sectors like energy, agriculture, and technology.
President William Ruto announced that Kenya has secured a substantial $4.48 billion deal for Green Development projects during the COP28 summit held in Dubai. The Africa Green Industrialisation Initiative (AGII) was launched, unveiling partnerships and projects aimed at promoting sustainability and innovation in Kenya. One of the key projects is a $1.5 billion Green Fertiliser Project in collaboration with Fortescue Future Industries, focusing on using geothermal steam for Green Hydrogen production and creating green fertilizer. Additionally, a $800 million deal with GDC and AMEA Power will lead to the construction of a 200MW Paka Geothermal field. This initiative, along with the partnership between Konza Metropolis, KenGen, and GDC, will drive the development of an ICT Data Storage industry using green energy from Geothermal sources. Furthermore, a sustainable agriculture project worth USD270 million, in cooperation with United Green and Kenya Development Corporation, will cover 15,000 hectares in the Lake Basin Region. These projects highlight Kenya's commitment to sustainable practices, energy security, and technological advancement in sectors like agriculture, energy, and innovation.
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