Page 12 - AfrElec Week 04 2021

AfrElec NEWS IN BRIEF AfrElec

(megawatts) of Olkaria V geothermal power Communities Coalition supported by Power
plant in November 2019 which boosted Africa. Efforts will also be made to co-develop
geothermal production by 14 per cent,” domestic capacities that facilitate greater
managing director Rebecca Miano said on ENERGY TRANSITION access to renewable energy finance for African
Thursday. entrepreneurs.
The electricity producer received a tax IRENA forges new At the signing, IRENA Director-General
credit of Sh4.59bn from the Kenya Revenue Francesco La Camera said IRENA is
Authority during the period, in contrast with partnerships to advance committed to ensuring the transition brings
the preceding year when it had paid Sh3.79bn. prosperity and wellbeing to communities
“The tax credit was largely due to the energy transformation across sub-Saharan Africa.
impact of the temporary reduction of the Under a new agreement with Enel
corporate tax rate from 30 per cent to 25 per The International Renewable Energy Agency Foundation, the two parties will share
cent introduced as one of the Covid-19 tax (IRENA) signed a host of new agreements in data and insights about the development
relief measures,” Ms Miano said. the margins of IRENA’s recently concluded of the green hydrogen economy, which is
The company said it witnessed demand Eleventh Assembly. The four-day meeting increasingly cited as a central component of
challenges due to coronavirus lockdowns on held virtually for the first time brought close carbon neutral economies by 2050. IRENA
businesses and industry which partly affected to 100 minister level representatives and 2000 estimates that at least 1700 GW of renewables-
the second half of the year. attendees together to discuss pathways needed powered electrolyser capacity is needed by the
The government introduced containment to drive renewables adoption in a year of middle of the century, to produce the amount
measures to curb the spread of the virus in critical climate action. of green hydrogen required for a net zero
March following the reporting of the first In the margins of the Assembly, IRENA future.
Covid-19 case in Kenya. penned formal partnerships with the three Signed by the IRENA Director General
Electricity demand, however, picked up major institutions from the public and and Enel’s group Chief Executive Officer
following the reopening of the economy, private sector, furthering the Agency’s Francesco Starace, the partnership will also
KenGen said, to peak at 1,966MW on long-standing commitment to cooperative feature corporation on youth engagement
December 11 surpassing levels seen before the energy transformation action. Memoranda of initiatives and regional market trends., Public-
pandemic of 1,926MW. understanding were formalised with the Food private partnerships are an important focus of
Ms Miano said the firm sees increased and Agriculture Organisation (FAO), US Aid’s the Agency’s work as it looks to mobilise the
revenue going forward hinged on increased Power Africa and Enel Foundation. expertise, innovations and capital from the
power sales and diversification strategy. Under the Power Africa agreement, the private sector to advance the global energy
“In 2021, we aim to deliver the Olkaria I two parties will work to expand access to transition.
additional unit 6 geothermal power plant, affordable, reliable, and modern electricity Francesco La Camera, IRENA Director-
which will add 83.3MW to the national grid,” through off-grid energy solutions that use General commented that youth and
Ms Miano said adding that the firm would renewable and complementary technologies hydrogen development are two key energy
also “focus on delivery of the ongoing projects to improve economic activity, and enhance the transformation issues, and that the Agency
in Ethiopia.” The Ethiopia project generated provision of essential social services, such as welcomes partnerships with private sector
Sh440mn in revenues in the period under education, agriculture, water, and healthcare. corporations that share the Agency’s vision for
review. The agreement signed by IRENA Director a low-carbon future.
The board declared a dividend of Sh0.30 General Francesco La Camera and Power IRENA
per share up from Sh0.25 in 2019. Africa Coordinator Mark Carrato, will also
KenGen controls 64 per cent of the feature joint efforts to improve the provision
electricity generation market share with an of electricity to displaced refugee communities EMISSIONS
installed capacity of 1,803MW. and settlements, including through the Smart

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