The UK and Kenya have made significant progress on COP27 projects, investing in green initiatives and infrastructure. BII’s investments support sustainable agriculture and transportation. The UK-Kenya partnership exemplifies their shared vision for a sustainable future.
- COP27 Achievements: Flagship climate projects initiated between the UK and Kenya during COP27 have achieved significant milestones, progressing towards their goals before COP28.
- Designing President Ruto’s Initiative: The UK has played a crucial role in designing President Ruto’s Africa Green Industrialisation Initiative (AGII), aiming to create jobs, foster economic growth, and boost trade.
- Key Projects Progress:
- The KES 12.5 billion Menengai Geothermal project, generating 35MW of electricity, is proceeding to financial close, providing clean energy to 750,000 Kenyans.
- A KES 31 billion agreement with the Kenyan Development Corporation and UK-funded United Green focuses on climate-smart farming, saving Kenya $200 million annually on food imports.
- UK-Kenya Strategic Partnership: These projects are part of the UK-Kenya Strategic Partnership, totaling over KES 500 billion of investment, with a focus on mutual benefits and avoiding unsustainable debt.
- New Investments by British International Investment:
- KES 1 billion ($7.1 million) for solar-powered irrigation benefiting 9,000 farmers, enhancing resilience to climate change, and reducing upfront costs through a carbon credit facility.
- KES 765 million ($5 million) for manufacturing 100 electric buses in Kenya, addressing the demand for clean public transport and mitigating 5,000 tonnes of CO2 annually.
- The announcement by British High Commissioner: Neil Wigan, the British High Commissioner to Kenya, emphasised the strength of the UK-Kenya Strategic Partnership and its positive impact on growth, jobs, and trade in a sustainable manner.
- Ruto/Sunak COP27 Deals Highlights:
- Menengai Geothermal: KES 12.5 billion investment, construction began in June 2023, aiming for affordable baseload renewable power.
- Nairobi Railway City: KES 11.5 billion investment, construction began in December 2022, focusing on green urban regeneration around a new railway station.
- Malindi Solar Expansion: KES 7.5 billion investment, a 40 MW solar plant connected to the grid in December 2021, with plans for expansion.
- Grand High Falls Dam: KES 425 billion investment, a Public Private Partnership on the Tana River generating 1,000MW of hydroelectric energy and irrigation for farmland.
- United Green: KES 31 billion investment, a climate-smart crop and agro-industrial processing system creating jobs and income for farmers.
- Guarantees: Collaboration to launch a guarantee company, committing KES 2 billion to de-risk investments and unlock private finance for Kenyan infrastructure.
- BII Investments Highlights:
- Solar Irrigation: KES 398 million ($2.6 million) carbon credit pilot investment into SunCulture, providing solar-powered irrigation systems to smallholder farmers.
- Electric Buses: KES 765 million ($5 million) investment for BasiGo Ltd., scaling local assembly and establishing a green hub for modern electric buses in Kenya.
- About British International Investment: British International Investment is the UK’s development finance institution investing to create sustainable economies in eligible markets, with a commitment to climate finance between 2022 and 2026.