KenGen’s Carbon Credits Boost Revenue

November 14, 2024 • Estimated Reading Time: 2 minutes

Key Figures & Findings: Kenya Electricity Generating Company (KenGen) recently reported a substantial revenue increase, earning Ksh4 billion (approx. $27 million) from carbon credit sales. This achievement highlights KenGen’s commitment to sustainable energy through its hydro and geothermal projects, as it actively contributes to the global goal of reducing greenhouse gas emissions. CEO Rebecca Miano noted that the revenue will support Kenya’s green initiatives, strengthening KenGen’s position as a leader in clean energy solutions across Africa.

Statistics & Insights: The carbon credits sold by KenGen represent emissions reductions equivalent to about 1.5 million tons of CO₂. The company’s renewable energy projects, including extensive geothermal operations, play a crucial role in reducing Kenya’s carbon footprint.

Future Implications: These earnings could allow KenGen to fund additional green projects, enhancing Kenya’s sustainable energy infrastructure. The continued focus on carbon credits could set a strong example for other African nations looking to monetize climate initiatives.