Greening Kenya’s Future: Advancing Sustainability Through Investments in Renewable and Clean Energy Solutions
Clean energy stands as a pillar for achieving sustainable development, fostering gender equality, and mitigating Greenhouse Gas emissions. When implemented rightly, it can lead to profound impact that stretches beyond environmental benefits to economic empowerment, improved health, enhanced education opportunities, and the overall well-being of communities by helping them gain access to reliable energy sources.
As we contribute to achieving Sustainable Development Goal (SDG) 7 on affordable and clean energy which aims to ensure access to affordable, reliable, sustainable, and modern energy for all by 2030; the International Day of Clean Energy should bring to light the relevance of offering patient, affordable capital in the quest for reliable clean energy solutions.
Empowering Entrepreneurs for a Greener Tomorrow:
In a world grappling with climate change, clean energy offers opportunities for a diverse group of entrepreneurs, including youth, refugees, and women. The International Day of Clean Energy serves as a vital platform for showcasing their innovations and technologies. With the right support, these ventures not only contribute to positive environmental impacts but also foster sustainable job creation and economic development, nurturing inclusive economic growth on a global scale.
To promote the global spirit of leaving no one behind, these groups of entrepreneurs can engage in innovative, non-disruptive, and sustainable business models, providing climate smart solutions in renewable energy, agribusiness, water management, waste management and commercial forestry.
Transformative Investments: What is the future of clean energy?
Kenya Climate Ventures (KCV) takes a center stage as a key player investing in renewable energy and impact investment. KCV’s commitment leans towards supporting clean energy investments that not only yield financial returns but also contribute to an inclusive, sustainable, and resilient future.
KCV has invested a total of KES.134 million in the energy sector; Sunken, Ofgen, Sistema bio, Acacia, Vuma, and Kings biofuels. There is a growing demand for transition to green and sustainable power by agribusinesses. While a high-cost outlay is required to actualize growing demand for solar power by commercial and industrial customers, the local financial sector remains largely absent from this market. Tapping on this opportunity, in 2020, Kenya Climate Ventures invested in Ofgen Limited to design and install a 1.5MW off-grid (rather hybrid) solar plant at Williamson Tea Factory in Kaimosi which previously suffered from unreliable grid supply. The plant supplies interrupted 60% of the factory power needs day and night, hence reduced power bills, managed power outages, and increased revenues.
“KCV’s vision extends beyond financial success; it envisions a future where sustainable energy solutions play a pivotal role in shaping a healthier, more equitable, and resilient Kenya and global community and societal implications of KCV’s dedication to renewable and clean energy.” Victor Ndiege, CEO KCV
In its efforts to promote manufacturing and distribution of clean energy, Acacia Innovations, Vuma Biofuels and Kings Biofuels produce over 1000 Tonnes per month of briquettes and supply to schools, hotels, and industries. This has contributed to a significant reduction of both Vuma and Kings’ biomass energy budget by 30%. This helps to answer the questions revolving around the steps that KCV and its partners are making towards the energy goal for 2030, including ensuring universal access to affordable electricity, expanding infrastructure, and upgrading technology to provide clean energy in all developing countries.
“We are the largest supplier of clean cooking fuels to Kenyan schools. Our briquettes are much more affordable, cleaner, and healthier for the school cooks and students. Every one tone of our product saves about 13 trees and 600 kg of carbon emissions and has a positive impact on keeping school meals affordable for the children and making sure that the cooks as well as children don’t suffer from the negative impacts of toxic cooking smoke as there’s no smoke entering the classrooms”, says Elana, the CEO of Acacia Innovations.
Celebrating International Day of Clean Energy 2024: Joining Hands for a Sustainable Future:
As we mark and celebrate the International Day of Clean Energy on 26th January 2024, KCV invites our partners and other global communities to join hands in forging a path towards a sustainable and prosperous future. This day provides an opportunity to emphasize the importance of clean energy, guided by a shared commitment to environmental and social responsibility.
In conclusion, let’s unite in contributing to the achievement of universal access to affordable, reliable, sustainable, and modern energy for all by 2030. Together, we can build a future powered by clean energy, ensuring a sustainable and thriving world for generations to come.