Kenya has been hailed for having one of the most developed energy sectors in Sub-Saharan Africa- and more so in the green sector.
This was during the 9th edition of the oil and gas, power, and energy exhibitions, which brought in more than 30 countries and more than 200 companies in a ceremony held at Kenyatta International Conference Centre (KICC).
Kesses Member of parliament Swarup Mishra said Kenya’s energy sector is unique and progressive, having opened its market to Independent Power Producers (IPPs) in the mid-1990s.
With the move, the legislator said Kenya bears immense prospects and opportunities in its power and energy sector.
He cited that Kenya benefits from factors including: an active private sector and abundant renewable energy resources, especially geothermal, wind and solar
“The world is looking towards affordable and clean energy, as enshrined in the Sustainable Development Goals. Affordable and clean energy is a critical consideration for all venturing into the power and energy sector. Kenya has one of the most developed power sectors in sub-Saharan Africa,” he said.
Some of the major problems in the energy sector were identified to be: rising energy prices, high demand for electricity than the ability to build new generations and the inability of Kenyan Power and Lighting Company to link every consumer willing to purchase and consider cost of rural electrification by grid development due to dispersion.
Kesses welcomed investors to invest in Kenya and delve into the exploitation, and exploration of our power and energy sector, also adding that private investment is also allowed in state-owned energy sector companies, albeit only as a minority shareholding.
“With the right investments, Kenya can be a potent energy hub with a prominent profile for both locals and international investors,” he said.
Source: Capital FM Kenya.
