2014-04-03 05:49:02 - Kenya Renewables Report Q2 2014 - a new market research report on companiesandmarkets.com
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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