EU Boosts Kenya with Ksh1.8 Billion Cash

EU Boosts Kenya with Ksh1.8 Billion Cash

The European Union (EU) will invest approximately Ksh1.8 billion (12 million euros) in the renewable hydrogen industry in Kenya.

President of the European Commission Ursula von der Leyen announced on Tuesday during the Africa Climate Summit after unveiling the Green Hydrogen Strategy and Roadmap with President William Ruto.

According to a communiqué from the European Commission, the funds will be provided in the form of grants to attract public and private investments into the green hydrogen industry.

This substantial commitment is in addition to the Ksh532 billion already allocated by the EU to climate change and nature initiatives in Kenya.

Von der Leyen praised the green hydrogen roadmap when discussing the initiative, adding that it would increase the country’s exports.

“Kenya’s ambitious target of 100% clean energy by 2030 is an inspiration for other countries. The Roadmap on Green Hydrogen will support Kenya towards that goal. It will help cut emissions, support a strategic industry for the country’s future, and boost its export capacity towards partners like the EU,” she stated.

President Ruto emphasized that the strategy would generate numerous job opportunities for Kenyans.

“The Green Hydrogen strategy prioritizes economic expansion, generation of job opportunities, and the promotion of environmental stewardship and charts a course for Kenya to harness the potential of green hydrogen as a key driver of energy transition,” he remarked.

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“Green hydrogen economy will enhance food security including expansion of green production of Kenyan tea, coffee, horticulture, floriculture, and grains. It will also facilitate decarbonization of our industries and indeed the economy,” the head of state added.

The green hydrogen strategy aims to produce hydrogen from electricity derived from renewable sources, resulting in carbon-free energy production.

This strategy will permit the production of hydrogen locally, reducing the need to import critical commodities such as nitrogen fertilizers and methanol.

It is anticipated that locally produced nitrogen fertilizers will enhance food security by making them readily available to producers.

In addition, the strategy has the potential to act as a catalyst for industrialization by establishing value chains dedicated to the production of green hydrogen and its derivatives, thereby creating employment opportunities throughout the entire green hydrogen value chain.

In addition, the strategy and road map are intended to attract both public and private investments in Kenya, an aim that will be supported by EU grants, thereby facilitating Kenya’s journey toward a sustainable and green energy future.

EU Boosts Kenya with Ksh1.8 Billion Cash