Kenya considering to open land for private sector geothermal development
Kenya considers opening land for private sector geothermal investment in a move to attract foreign investment in the development of its geothermal resources.
Local news report that Kenya is considering a review of various geothermal energy policies to help promote private investment into development in the country.
Under new regulations, so Principal Secretary for Energy and Petroleum, Joseph Njoroge, the private sector will be given land concessions to explore for geothermal steam.
“The aim is to enable private sector to complement government exploration efforts so as increase amount of geothermal electricity production in the country,” Njoroge said during the UK-Kenya Renewable Energy Conference last week.
The conference brought together 100 representatives from local and foreign energy firms to discuss investment opportunities in Kenya’s renewable energy sector.
“Geothermal (energy) is now a significant source of energy as approximately 50 percent of all electricity produced from renewable energy comes from geothermal sources,” Njoroge said.
He said Kenya had only exploited less than five percent of its geothermal resources partly due to “a deficit in financing of geothermal projects.” The government plans to cooperate with the private sector to ensure more electricity generation from geothermal energy, the official said.
Source: Coastweek