@BusinessDaily

EDITORIAL: KenGen loan plan flawed

1 weeks ago, 19:00

By: Editorial

Power firm KenGen’s plan to procure yet another huge loan to build a solar power station in central Kenya, though fascinating in its promise to increase the amount of clean energy in our generation mix, is uninspiring.

Besides, State agencies cutting deals to procure loans that are then loaded onto the taxpayers has been the subject of intense public debate – to which the government has comprehensively responded with a ban.

Then there is the bait of cheaper, renewable power coming from the investment that is being used to justify funding from agencies such as the World Bank. Kenyan experience is that such multi-billion shilling investments have not brought relief to the consumer.

Since 2014, for instance, Kenya has added more than 300MW of clean geothermal power to the national grid for total installed capacity of more than 2300MW.

Yet consumption has only grown marginally to about 1750MW but the cost of power has kept rising hitting an all-time high. This only makes hollow the current promise that the 40MW from this solar plant will make a difference in the lives of consumers.


Read More


Category: business opinion news lifestyle corporate

Suggested

11 hours ago, 00:06
@StandardMedia - By: James Wanzala
Experts poke holes on Uhuru’s housing plan

President Uhuru Kenyatta’s plan to provide at least 500,000 housing units might end up benefitting a handful of individuals. ...

Category: business news
11 hours ago, 00:06
@StandardMedia - By: James Wanzala
Britam eyes a fortune from property market

Britam Holdings Plc has announced that their Britam Tower, the flagship project of their property subsidiary, is ready for occupation, following the c ...

Category: business news
22 hours ago, 13:01
@AfricaNews - By: Africanews
Ethiopia's economic reforms pay off as birr black-market collapses | Africanews

Businesses and analysts in the capital Addis Ababa told Reuters on Friday the birr was trading on the parallel market around 28 to the dollar, close to parity with the official rate and 25 percent fir ...

Category: africa africa_business business news
1 day ago, 10:31
@BusinessDaily - By: Reuters
Ethiopia's birr black-market evaporates as confidence booms

Local businesses say they are finally feeling relief from a foreign exchange crunch ...

Category: business lifestyle news economy corporate opinion markets
1 day ago, 09:06
@DailyNation - By: Victor Juma
US firm bid for Unga Group flops

Buyout fails after the company declines to raise its offer following concerns of attempting to acquire the miller cheaply ...

Category: topnews news business
1 day ago, 09:38
@DailyNation - By: Bonface Otieno
Nock eyes 100 fuel stations in turnaround plans

The State oil marketer also plans to pick a firm “in the next few months” to partner with in setting up onshore drilling ...

Category: topnews news business

@BusinessDaily

EDITORIAL: KenGen loan plan flawed

1 weeks ago, 19:00

By: Editorial

Power firm KenGen’s plan to procure yet another huge loan to build a solar power station in central Kenya, though fascinating in its promise to increase the amount of clean energy in our generation mix, is uninspiring.

Besides, State agencies cutting deals to procure loans that are then loaded onto the taxpayers has been the subject of intense public debate – to which the government has comprehensively responded with a ban.

Then there is the bait of cheaper, renewable power coming from the investment that is being used to justify funding from agencies such as the World Bank. Kenyan experience is that such multi-billion shilling investments have not brought relief to the consumer.

Since 2014, for instance, Kenya has added more than 300MW of clean geothermal power to the national grid for total installed capacity of more than 2300MW.

Yet consumption has only grown marginally to about 1750MW but the cost of power has kept rising hitting an all-time high. This only makes hollow the current promise that the 40MW from this solar plant will make a difference in the lives of consumers.


Read More

Category: business opinion news lifestyle corporate

Suggested

11 hours ago, 00:06
@StandardMedia - By: James Wanzala
Experts poke holes on Uhuru’s housing plan

President Uhuru Kenyatta’s plan to provide at least 500,000 housing units might end up benefitting a handful of individuals. ...

Category: business news
11 hours ago, 00:06
@StandardMedia - By: James Wanzala
Britam eyes a fortune from property market

Britam Holdings Plc has announced that their Britam Tower, the flagship project of their property subsidiary, is ready for occupation, following the c ...

Category: business news
22 hours ago, 13:01
@AfricaNews - By: Africanews
Ethiopia's economic reforms pay off as birr black-market collapses | Africanews

Businesses and analysts in the capital Addis Ababa told Reuters on Friday the birr was trading on the parallel market around 28 to the dollar, close to parity with the official rate and 25 percent fir ...

Category: africa africa_business business news
1 day ago, 10:31
@BusinessDaily - By: Reuters
Ethiopia's birr black-market evaporates as confidence booms

Local businesses say they are finally feeling relief from a foreign exchange crunch ...

Category: business lifestyle news economy corporate opinion markets
1 day ago, 09:06
@DailyNation - By: Victor Juma
US firm bid for Unga Group flops

Buyout fails after the company declines to raise its offer following concerns of attempting to acquire the miller cheaply ...

Category: topnews news business
1 day ago, 09:38
@DailyNation - By: Bonface Otieno
Nock eyes 100 fuel stations in turnaround plans

The State oil marketer also plans to pick a firm “in the next few months” to partner with in setting up onshore drilling ...

Category: topnews news business
Our App