KenGen renewing crediting period for Olkaria II Unit 3 under Clean Development Mechanism
KenGen has renewed the credit period under the UNFCC CDM mechanism for carbon credits being derived from the operation of the Olkaria II 35 MW unit 3 in Olkaria, Kenya.
Kenya Electricity Generating Company (KenGen) has renewed its registration of the Olkaria II 35 MW expansion under the Clean Development Mechanism. The project was registered under the CDM scheme in 2010. In a report by the World Bank, the project was described as “the first CDM project to issue Certified Emission Reductions (CERs) in Kenya. ”
With estimated certified emission reductions (CERs) of 78,640 metric tonnes CO2 equivalent per annum, KenGen expects 550,480.00 metric tonnes CO2 equivalent with potential earnings of USD 1,100,960 based on a conservative market value of 2USD/ton of CER during the extended period, up to 2024.
This follows a decision by the United Nations Framework Convention on Climate Change (UNFCCC) to renew the power plant’s expansion CDM Project.
KenGen Managing Director & CEO, Rebecca Miano, said the objective of the Olkaria II Geothermal Expansion Project was to increase the capacity of the existing Olkaria II Geothermal Power Plant by adding a third power generation unit with a capacity of 35MW, which started operation in 2010.