Kenya Bags $4.5B For Green Industrialization at COP28
On the sidelines of COP28, President William Rutto was multiplying bilateral meetings with other countries and companies as part of his country’s drive towards #GreenIndustrialization. At the end of the day, his efforts paid off with projects worth about USD 4.5 billion getting committed for Kenya.
As part of the runup to COP28, Kenyan President Rutto has been leading the charge for the Africa Green Industrialization Initiative whose objective is to scale up and accelerate of local green manufacturing across the continent.
| NO. | PROJECT | INVESTOR | USD M |
| 1 | Green fertilizer plant | Fortescue Future Industries | 1,500 |
| 2 | Geothermal Power Plant at Suswa | Pertamina Geothermal Energy backed by Masdar | 1,000 |
| 3 | 200 MW Geothermal Power Plant at Paka | AMEA Power | 800 |
| 4 | Green Data Center at Olkaria | EcoCloud in partnership with KenGen | 600 |
| 5 | Sustainable Agricultural Project on 15,000 ha in Lake Basin Region | United Green in partnership with Kenya Development Corporation | 270 |
| 6 | Clean Energy Supply Chain | 200 | |
| 7 | 35MW Geothermal Power Plant | Globeleq | 110 |
USD 1.5 billion will go to finance a green fertilizer plant. KSH 90 billion will be used to set up green data centers in partnership with KenGen. Another KSH 150 billion will be invested in a 300 MW geothermal plant at Suswa.