The Government of Kenya is working to achieve universal access by 2022, a goal that can significantly and positively impact education, health, and productivity. Ci-Dev, through results-based financing, is supporting innovative business models for renewable energy generation that support this goal.
Ci-Dev will purchase 530,000 emission reductions, resulting from renewable energy produced by 10 small hydropower plants throughout Kenya. The plants will provide renewable energy to nearly 40 tea factories and more than 350,000 small farms. In addition, the program expects to sell as much as 55 percent of the generated power to the Kenya Power and Lighting Company, contributing to an increased share of renewable energy in the Kenyan electricity grid.
Carbon revenues will complement commercial debt financing, allowing the Government to expand and replicate the business model in order to demonstrate commercial viability and attract further investment.
Through the KTDA Small Hydro Program of Activities, Ci-Dev will demonstrate how carbon revenue can support private sector investment for innovative models of renewable energy generation.