Kenya Signs $2.4bn Green Energy Deal with Denmark
Deal triples Kenya geothermal capacity by 2030.
Kenya and Denmark signed a landmark $2.4 billion green energy partnership agreement in Nairobi, the largest climate finance deal in African history. The agreement will fund the tripling of Kenya's geothermal power capacity from the current 900 megawatts to 2,700 megawatts by 2030, leveraging the country's position along the East African Rift Valley.
Kenya already generates over 90% of its electricity from renewable sources, primarily geothermal and hydropower, making it one of the greenest grids in the world. The expansion will create surplus power capacity that Kenya plans to export to neighboring Uganda, Tanzania, and Ethiopia through the East African Power Pool interconnection network. Danish firms Vestas and Orsted will provide technical expertise and turbine technology.
The Nairobi Securities Exchange rose 1.2% on the announcement, with Kenya Electricity Generating Company (KenGen) and Kenya Power among the top gainers. The deal also includes a $400 million component for green hydrogen production, positioning Kenya as a potential export hub for clean fuel. Danish Prime Minister called the partnership 'a model for how developed and developing nations can collaborate on climate action while creating economic opportunity.'
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