Following a meeting between the UK Prime Minister and Kenyan President Ruto at the COP27 climate summit in Sharm el-Sheikh, Egypt, the UK and Kenya have decided to expedite six projects totaling KES 500 billion in order to increase the flow of climate money into Kenya.
Investments will serve as the centerpieces of the five-year UK-Kenya Strategic Partnership, which is bringing both the UK and Kenya benefits.
Following the signing of a KES500 billion agreement with the UK to expedite green projects, Kenya’s President stated that the country aspires to produce 30GW of green hydrogen.
The projects include the Grand High Falls Dam, which will generate a gigawatt of renewable energy and provide irrigation solutions for an area more than twice the size of the Maasai Mara, as well as new geothermal and solar energy generation at Menegai and Malindi, the green regeneration of central Nairobi, anchored around a new central rail station, and a Ksh 32 billion investment in a climate-resilient agricultural sector.
The UK Government will provide KES 2 billion to a new guarantee company that, in partnership with CPF Financial Services and other private investors, will reduce investment risk and make KES 12 billion in climate finance available for Kenyan projects over the course of the next three years.
The Prime Minister called on all nations to fulfill their promises set at COP26 in Glasgow and applauded President Ruto’s innovative climate leadership. He also urged Kenya to continue on its path toward green prosperity.
The UK worked with partners in Africa throughout its COP26 Presidency to implement and expand upon the Glasgow Climate Pact and see the COP26 pledges put into practice. For instance, in Kenya since COP26, £5.4 million has been committed, and £2.8 million will be spent to assist Kenya’s energy transition and the ambitious 10% forest cover goal set by the Kenyan government.
However, the UK is aware that more effort has to be done. Alok Sharma, president of the COP, reiterated the necessity for transformational adaptation action and progress on access to finance by COP27 during his recent visit to Kenya.
The UK and Kenya go far when we go together, said Jane Marriott, the British High Commissioner to Kenya. The UK is helping Kenya progress and retains its continent-leading climate credentials by accelerating capital into these clean, green projects with honest, trustworthy investment — to the mutual benefit of our two countries.
