The United Arabs Emirates (UAE) on Tuesday, June 20, expressed interest in investing in Kenya's green energy sector after President William Ruto hosted its Minister for Industry and Cooperatives, Sultan Al-Jebr.
Al-Jebr, who also doubles up as Managing Director of Abu Dhabi National Oil Company (ADNOC), explained that green energy was the key to addressing climate change effects.
ADNOC was named the most valuable company in UAE in January 2023 by Brand Finance, with an estimated value of Ksh1.9 trillion.
"Kenya will partner with the United Arab Emirates to make the 28th United Nations Climate Change Conference (COP 28) in December a win-win outcome for all, President William Ruto has said.
"Al-Jebr said a united front at COP28 will provide the necessary solutions and deliver a game-changing COP28. He said the UAE is seeking to invest in Kenya's renewable energy resources," a statement by State House read.
Al-Jebr is the designated president of COP28.
On his part, Ruto underlined the importance of green energy investments adding that the country will partner with like-minded nations to address the worldwide climate change concerns.
He also noted that the country had benefited from previous partnerships with the Middle East, especially the Saudi Arabia oil deal.
"Climate change is an existential threat to all of us, and there is no room for blame games and sideshows. We look forward to COP 28 as a turning point in climate action.
"To underscore our commitment to results we have today launched a joint working group between the Africa Climate Action Summit and COP28 with a focus on the just energy transition and unlocking climate finance to accelerate green growth in Africa in the lead-up to the respective summits," Ruto stated.
The President has been drumming up support for Kenya's Vision 2030 green energy plan, wooing investors to fund key projects that will aid the country in achieving its goals.
“Africa is endowed with clean, green and renewable energy sources and the essential minerals required by the global energy transition that humanity must undertake to avert a climate catastrophe," Ruto stated while addressing delegates at the 25th Africa Energy Forum in Nairobi.
As of November 2022, renewable sources accounted for nearly 80 per cent of the country's installed electricity generation.
