Kenyan Prime Minister Raila Odinga, visiting the Norwegian capital Oslo for a two day visit, is attending a conference organized by the Norwegian government and seeking partners for funding energy projects in the East African nation.
At the Energy Plus Partnership Conference Odinga told his audience that Kenya needs $18 billion to develop 5,000 megawatts of geothermal power over the next two decades to increase the state’s power generating capacity from its current level of 1,460 megawatts. According to the country’s Vision 2030 program, Kenya will require up to $45 billion to increase its overall electrical generating capacity to a projected 21,620 megawatts, KBC Online news agency reported.
Odinga stated that his government expects most of the investment would come from the private sector, but added that a major challenge in raising private capital is the fact that potential investors demand sovereign guarantees from the government, which it is largely unable to provide, noting that Kenya is pursuing several programs to help increase access to clean energy, including shifting from hydro to geothermal power and developing clean coal technology.
Odinga also spoke about the Kerosene Free Kenya program, which seeks to replace kerosene stoves and lamps with solar lanterns and solar panels, green charcoal and improved cooking stoves over the next two years.
By. Joao Peixe, Deputy Editor OilPrice.com
Joao is a writer for Oilprice.com