The Kenyan energy sector is on the rise towards a fully sustainable future. Over the last decade, the country has experienced massive surges in green technology. However, since the advent of the coronavirus, Kenyan efforts toward sustainability have plateaued off.
In a report from a joint venture by the world bank, the International Energy Agency, the global agency for renewable energy and the World Health Organization, Kenya’s renewable sector is to get critical meaning after all
According to the report, the renewable sector has increased the potential for handling epidemics compared to fossil fuel ventures. According to market standings, fossil fuel investments fell by a significant amount due to a 3% fall in natural gas, while coal fell by 10% and petroleum by 4%. This outcome is a crucial lesson towards future energy investments in global markets as well as the Kenyan energy sector
The outcome has a significant impact as the proposed Lamu coal plant will cone back to the drawing board. The Kenyan economy might need time to get back to normal. There’s speculation that Lamus coal plant is not the best way forward for a country that is already plagued by food insecurity, unemployment, floods and locusts
The coal prospect is an expensive project with an extensive period of turnover. This venture doesn’t seem adequate compared to renewable projects that are small scale yet provide better energy turnover capacity. The most appealing factor that the country faces at this time is the need to venture into sustainable
Coal as a source of power was never the right choice. According to the initial pitch by interested proponents, the company aims to provide energy for the expected exponential demand for electricity by 2024. However, figures drown the Energy, and Petty Klein Regulatory Authority show that Kenya’s energy demand grows by 11.5% per year.
Parties backing the project estimate that by 2024 the mature demand for energy will rise to 15% per year. If the figure were accurate, the country’s energy production would not be sufficient to cover demand. Economic experts relate that should this be the case; the price of obtaining energy will increase substantially.
Lamus lower project had a lot of problems in its development. However, the latest set of circumstances has rendered the project obsolete. It is Kenya’s latest failed projects that were in the proposed vision 2030. Hopefully, the outcome comes as a valuable lesson for Kenya