In an interview, Anne Kiburi of KenGen stated that private investor participation is a key element to boosting geothermal development in Kenya and East Africa.
In an interview with KenGen Senior Economist and PPP Officer Anne Kiburi, she emphasized how the participation of private investors could boost geothermal development in Kenya and East Africa. She intends to give this message in her upcoming presentation in the Future Energy East Africa conference to be held at November 17 to 18 in Nairobi, Kenya.
Although East Africa has huge geothermal potential, challenges such as a slow growth in consumer demand, risk perception for the resource, the lack of financing for the projects, and the lack of technical capacity have been barriers to its development. Geothermal development is also capital-intensive and high-risk, especially in the preliminary phases.
Through the use of risk mitigation tools and early mover insurance policies, Kiburi is hoping to entice more private investors to participate in geothermal development. If geothermal prospers, the East Africa region can enjoy low-cost, low-carbon, and reliable baseload electricity.