The European Investment Bank has announced that it will strengthen support for green hydrogen investment in Kenya following the signing of a joint declaration on renewable clean hydrogen
Njuguna Ndung’u, Keyna’s Cabinet Secretary, National Treasury and Economic Planning, commented, “Kenya has some of the best renewable energy sources in the world if the storage components were equally developed. The route to storage has the potential to develop green hydrogen to deliver sustainable, green and inclusive growth. Today’s agreement builds on decades of close cooperation with the European Investment Bank to support renewable energy across Kenya. Together we will develop projects that will develop green hydrogen as part of the Kenya Energy Roadmap 2040.
“The joint declaration between Kenya and the European Investment Bank will improve understanding of how best to identify, structure, unlock and implement green hydrogen investment. Development of green hydrogen in Kenya has the potential to enable 100% of Kenya’s energy needs to be supplied by clean power.” said Davis Chirchir, Cabinet Secretary, Ministry of Energy.
Henriette Geiger, European Union Ambassador to Kenya, commented “The European Union and Kenya are committed to tackling climate change and increasing use of renewable energy. The new agreement between the EIB, the EU Bank, and Kenya will accelerate identification and investment in green hydrogen in Kenya and harness renewable energy to deliver affordable and sustainable energy.”