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KenGen earns Sh4bn from carbon credits sales

Kenya Electricity Generating Company (KenGen) workers walk at the Olkaria II Geothermal power plant near the Rift Valley town of Naivasha, Kenya on February 15, 2018.

Photo credit: Reuters

By  Patrick Alushula

Business Reporter

Nation Media Group

Kenya Electricity Generating Company (KenGen) is set to receive $32.05 million (Sh4.14 billion) by January from the sale of its certified emission reductions (CERs), offering a sneak peek into the lucrative market of climate change initiatives.

The electricity generator, which has been looking for a buyer of 4.62 million tonnes of CERs, says it has entered into a contract with Sintmond Group—a Nairobi-based firm that offers energy solutions, inspections and waste disposal or recycling.

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