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Ruto: We've secured Sh682 billion for green development projects at COP28

President William Ruto at the launch of the Africa Green Industrialisation Initiative (AGII) on 2 December 2023. (Photo: PCS)

By Dennis Tarus | 03 Dec 2023

Part of the deal includes a $1.5 billion Green Fertiliser Project between the Kenyan Government and Fortescue Future Industries.

President William Ruto has said the government has secured a $4.48 billion (Sh682,496,192,000) deal for Green Development projects at the COP28 summit.

The deals were announced during the launch of the Africa Green Industrialisation Initiative (AGII) on Saturday in Dubai, UAE at the 28th Conference of the Parties (COP28).

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Part of the deal includes a $1.5 billion Green Fertiliser Project between the Kenyan Government and Fortescue Future Industries.

The partnership will provide Kenya with additional energy security through the use of geothermal steam to generate power for Green Hydrogen production and create green fertilizer.

The other deal sees Kenya through the Konza Metropolis and KenGen develop an ICT Data Storage industry using green energy from Geothermal.

Another $800 million deal to construct a 200MW Paka Geothermal field by GDC and AMEA Power.

President William Ruto at the launch of the Africa Green Industrialisation Initiative (AGII) on 2 December 2023. (Photo: PCS)

GDC and AMEA will jointly assess available data, site access, and studies done at the Paka Geothermal Field, including the number of wells drilled, the status of the wells, drilling process reports, and the capacity of the wells (MW equivalent of steam capacity and Steam + Brine Capacity).

This will be followed by a full feasibility study for the Paka Geothermal Field, the costs for which would be borne fully by AMEA Power.

The government also announced a USD270m sustainable agriculture project between United Green and Kenya Development Corporation to develop a sustainable agriculture project around the Lake Basin Region.

The project is to cover 15,000 hectares of climate-smart, high carbon-sequestering, precision agriculture, and broadacre row cropping.