Kenya’s promising Green energy future gains interest from Infinity Power

Source;https://allafrica.com/stories/202307040524.html

The transition to clean sources of energy has picked up pace owing to the ravaging effects of climate change.

Around the globe and in Kenya, in particular, firms and energy producers have invested in new environmentally friendly solutions and technologies.

Recently, the country hosted the biggest African Energy Forum (AEF), a symposium that brought on board leading tech as well as energy companies across the world.

Capital caught up with Infinity Power Deputy CEO Ahmed Mulla.

Based in Egypyt and UAE, Infinity Power is seeking to capitalize on Kenya’s shift to clean energy to sell its power products in the country.

Scope of the Company

The company, which is a joint venture platform with Abu Dhabi Future Energy and Infinity Energy, has the largest capacity of renewable energy on the continent of Africa, totaling 1.3 gigawatts of clean energy across its 25 projects in various African countries.

This equates to a reduction of more than 3 million tonnes of CO2 emissions per year using conventional power generation.

With current projects located in Egypt, South Africa, Senegal, and Ghana, Infinity Power aims to expand its operations in markets across all 54 African countries, providing electricity to all locations in Africa.

“We have the ambitions and aspirations to be the number one company to deliver sustainable and affordable renewable power. We have a clear mandate to deploy clean energy in Africa whether its wind or solar to ensure that we are maximizing the potential of delivering the cheapest electricity to the African market “observes an optimistic Mulla.

Infinity Power eyes a piece of Kenya’s promising green energy sector

While observing that its time for the African continent to rise up and embrace green energy, Mulla observes the need of providing locals with the technical know-how and good corporate social responsibilities deployed with the local communities.

“We plan to grow and growth is not driven by our ambitions to be the largest but also to serve. We are here to serve the continent. We are here to serve the people of Kenya. We can only do that with the support of the government,” adds Mulla.

He observes that Kenya is one of the most desirable markets on the African continent for establishing green energy reserves, adding that the company is a great believer in local partnerships.

Infinity Power’s deputy CEO says they are looking for partners with stronger outlook and a strong track record of delivery to drive their agendas in the country.

“Working on our own we cannot work quickly. We need to have partners who can help us in speaking the same language in understanding that the regulations and challenges locally are shared with us to solve the Kenyan power problem, “observes Ahmed. The hope to set a hub in the country.

Kenya’s power outlook

Kenya’s reliance on renewables for roughly 90% of its power needs and the aim of lifting this to 100% by 2030 is helping to attract climate change mitigation financing from global sources.

Demand for green energy is on a steady rise in the country.

The latest data from the Energy and Petroleum Regulatory Authority (EPRA, the sector regulator) show that electricity available for distribution rose by 4.5% to 12,700 GWh in 2022, including a near 10% rise in geothermal (to 5,520 GWh) and an 8% rise in wind (to 2,140 GWh), giving them respective shares of 45% and 17%.

Solar power’s share is smaller, at 3% in 2022, but output more than doubled from a year earlier. This presents a rich front for investments in the green energy sector.

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