A proportion of the population in Kenya (64%) and Ethiopia (70%) still lack access to energy. This is despite the fact that both countries are leaders in geothermal power potential in East Africa with 10,000 MW each. There is a growing demand for affordable, clean energy access, but high risk and high capital costs associated with developing geothermal resources act as a significant investment barrier.
The Conservation Foundation is working with partners on the GeoFutures GreenInvest project to support sustainable development in these countries. With P4G support and funding, GeoFutures GreenInvest will unlock 600 MW of low cost, clean, reliable geothermal power in Kenya and Ethiopia – avoiding almost 3.1 million tonnes of CO2eq annually compared with baseline scenario. As a step-change to mitigate greenhouse gases, the project supports Kenya and Ethiopia to meet their climate ambitions under the Paris Agreement and contribute towards UN SDG 7 (Affordable & Clean Energy), 11 (Sustainable Cities) and 13 (Climate Action).
GeoFutures GreenInvest is further committed to ensuring local populations are positively impacted, engaged and supported, helping towards the UN SDG 1 (No Poverty), 2 (Zero Hunger), 3 (Good Health and Well-Being).
Partners: International Geothermal Association (IGA), Parhelion Underwriting Limited, Kenbright Holdings Limited, Earth Active, FSD Africa, Howden/RKH
Project website: https://geofutures-greeninvest.com/