Kenya Renewables Report Q2 2014 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-03 05:49:02
The Kenyan government announced in late November that it will suspend issuing new licenses for solar and wind power projects until 2017 as it focuses on cheaper electricity sources in a bid to reduce power prices. While this does come as a slight blow to the future expansion of the wind and solar sectors in Kenya, the move does make economical sense and prioritising base-load generation should help to meet rising electricity demand. The announcement has little bearing on our forecasts as we have long-held a cautious outlook towards the solar and wind industries and as such had only partially factored in projects that were already in the pipeline.
Kenya´s energy policy reflects the country´s desperate need to diversify its electricity sources away from expensive oil and unreliable hydropower, as it intends to promote the development of renewable technology. Owing to Kenya´s geographical position over shifting tectonic plates, geothermal power is set to play a fundamental part of the renewable expansion. Kenya is already Africa´s largest producer of geothermal power and the government aims to generate 5GW from geothermal sources by 2030.
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