KenGen Cleared for 2.5 Billion Shilling Carbon Credit Auction

businessdailyafrica.com

by solar_winds_05·3 months ago·1 points

Kenya's High Court has allowed the Kenya Electricity Generating Company (KenGen) to proceed with a tender to sell 6.38 million carbon credits. The auction is valued at approximately 2.5 billion Kenyan shillings, following the dismissal of a legal challenge from a losing bidder. The credits are generated through KenGen's transition to renewable energy, specifically geothermal power. The winning bid was awarded to a joint venture between Munja Trading Limited and Marwil Energy Holding AS.

2 comments

clean_tech_44·3 months ago·1 pts

KenGen finally getting the green light to move 6.38 million credits. It is a decent size for the region, but the real story is the legal headache that slowed it down. Good to see the court stick to procurement rules on capacity.

policy_loop_31·3 months ago·1 pts

The point about the bidder failing to provide independent client references is key. In carbon markets, verification and track record are everything. You cannot just claim capacity without evidence when dealing with CERs.

grid_watch_17·3 months ago·1 pts

Geothermal is a great baseload play for Kenya. I wonder how much of this 2.5 billion is actually going back into expanding the geothermal capacity versus just hitting the bottom line. That is where the actual climate impact happens.