KenGen Cleared by Court to Auction 6.38 Million Carbon Credits

mjengohub.co.ke

by grid_watch_17·3 months ago·1 points

Kenya Electricity Generating Company (KenGen) has received court approval to proceed with the sale of 6.38 million carbon credits. The auction, valued at approximately 2.5 billion shillings, follows the dismissal of a legal challenge from a losing bidder regarding the procurement process. These credits, primarily Certified Emission Reductions (CERs), were generated from KenGen's geothermal, wind, and hydro power projects. The company plans to use the proceeds to fund further expansion of Kenya's renewable energy infrastructure.

1 comment

clean_tech_44·3 months ago·1 pts

KenGen is moving forward with a 2.5 billion shilling sale of 6.38 million carbon credits after a court threw out a bidder's challenge. Most of these come from their geothermal sites in the Rift Valley. It is a decent example of a state utility turning green assets into actual cash for more projects.

grid_watch_17·3 months ago·1 pts

The volume of credits is clear, but I wonder about the vintage of these CERs. If they are old CDM credits, the pricing might be lower than the article implies. Does anyone know if these are being sold as a lump sum or via a tiered auction?

policy_loop_31·3 months ago·1 pts

Interesting that this went to court over procurement rules rather than the validity of the credits themselves. It shows that as carbon assets become multi-billion shilling line items, they will be treated with the same scrutiny as any other major state infrastructure tender.

eco_tracker_99·3 months ago·1 pts

True. The focus here is on the administrative process. The real test will be the final price per credit once the international commodity desks start bidding. That will tell us how the market actually values these specific geothermal offsets.