{"id":69605,"date":"2020-10-15T12:23:56","date_gmt":"2020-10-15T09:23:56","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/business\/?p=69605"},"modified":"2020-10-15T12:23:56","modified_gmt":"2020-10-15T09:23:56","slug":"kengen-to-earn-sh118mn-from-clean-development-mechanism-project","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2020\/10\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\/","title":{"rendered":"KenGen to earn Sh118mn from Clean Development Mechanism Project"},"content":{"rendered":"<p><strong>NAIROBI, Kenya, Oct 15 &#8211; Energy producer Kenya Electricity Generating Company (KenGen) is set to earn about USD 1,100,960 (about Sh118million) in the next seven years from the Olkaria II Clean Development Mechanism (CDM) Project.<\/strong><\/p>\n<p style=\"font-weight: 400\">This follows a decision by the United Nations Framework Convention on Climate Change (UNFCCC) to renew the power plant\u2019s expansion CDM Project.<\/p>\n<p style=\"font-weight: 400\">With estimated certified emission reductions (CERs) of 78,640 metric tonnes CO2 equivalent per annum, KenGen expects 550,480.00 metric tonnes CO2 equivalent with potential earnings of USD 1,100,960.00 based on a conservative market value of 2USD\/ton of CER during the extended period, up to 2024.<\/p>\n<p style=\"font-weight: 400\">Speaking on the extension, KenGen Managing Director &amp; CEO, Rebecca Miano, said the objective of the Olkaria II Geothermal Expansion Project was to increase the capacity of the existing Olkaria II Geothermal Power Plant by adding a third power generation unit with a capacity of 35MW.<\/p>\n<p style=\"font-weight: 400\">The project, she further stated, contributes towards greenhouse gas (GHG) emission reductions by displacing fossil fuel-based electricity in the Kenyan grid with clean geothermal power.<\/p>\n<p style=\"font-weight: 400\">It will contribute to national sustainable development by providing clean energy which ensures improved environmental quality, positive health impacts and increased productivity.<\/p>\n<p style=\"font-weight: 400\">At the same time, it will also increase power availability while creating more opportunities for expanded rural electrification with far-reaching impacts on job creation and improved livelihoods.<\/p>\n<p style=\"font-weight: 400\">Miano said the company\u2019s CDM programme was based on the UNFCCC, adding that the guidelines for the scheme were centered on the UNFCCC\u2019s Kyoto protocol that enables developing countries like Kenya to implement green projects that contribute to carbon emission reduction.<\/p>\n<p style=\"font-weight: 400\">While the sale of the CERs generated by the project will boost the production of clean energy in the country, communities living near the company\u2019s installations will also benefit from projects funded by carbon revenues.<\/p>\n<p style=\"font-weight: 400\">CDM was developed as part of the output of a global concern to contribute to climate change mitigation and to foster sustainable development for non-industrialized countries.<\/p>\n<p style=\"font-weight: 400\">In 1985, KenGen established an environmental unit that has been responsible for monitoring environmental impacts, soil erosion prevention, project site rehabilitation, and pollution control.<\/p>\n<p style=\"font-weight: 400\">KenGen has been focusing on the production of green energy and 86 percent of the energy produced by the company is from clean sources namely wind, hydro and geothermal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAIROBI, Kenya, Oct 15 &#8211; Energy producer Kenya Electricity Generating Company (KenGen) is set to earn about USD 1,100,960 (about Sh118million) in the next seven years from the Olkaria II Clean Development Mechanism (CDM) Project. This follows a decision by the United Nations Framework Convention on Climate Change (UNFCCC) to renew the power plant\u2019s expansion [&hellip;]<\/p>\n","protected":false},"author":13754,"featured_media":69608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[808,687],"tags":[934],"coauthors":[],"class_list":["post-69605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-top-stories","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>KenGen to earn Sh118mn from Clean Development Mechanism Project - Capital Business<\/title>\n<meta name=\"description\" content=\"NAIROBI, Kenya, Oct 15 - Energy producer Kenya Electricity Generating Company (KenGen) is set to earn about USD 1,100,960 (about Sh118million) in the next Kenya breaking news | Kenya news today |\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.capitalfm.co.ke\/business\/2020\/10\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KenGen to earn Sh118mn from Clean Development Mechanism Project\" \/>\n<meta property=\"og:description\" content=\"NAIROBI, Kenya, Oct 15 - Energy producer Kenya Electricity Generating Company (KenGen) is set to earn about USD 1,100,960 (about Sh118million) in the next Kenya breaking news | Kenya news today |\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.capitalfm.co.ke\/business\/2020\/10\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Capital Business\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/facebook.com\/capitalfmkenya\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-15T09:23:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.capitalfm.co.ke\/business\/files\/2020\/10\/Two-jpg-1-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"MARGARET NJUGUNAH\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@capitalfmkenya\" \/>\n<meta name=\"twitter:site\" content=\"@capitalfmkenya\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"MARGARET NJUGUNAH\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/2020\\\/10\\\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/2020\\\/10\\\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\\\/\"},\"author\":{\"name\":\"MARGARET NJUGUNAH\",\"@id\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/#\\\/schema\\\/person\\\/d8c5b8549c9847d639ec634afb48f11d\"},\"headline\":\"KenGen to earn Sh118mn from Clean Development Mechanism Project\",\"datePublished\":\"2020-10-15T09:23:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/2020\\\/10\\\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\\\/\"},\"wordCount\":384,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/2020\\\/10\\\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/files\\\/2020\\\/10\\\/Two-jpg-1-scaled.jpg\",\"keywords\":[\"featured\"],\"articleSection\":[\"Energy\",\"Top Story\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/2020\\\/10\\\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\\\/\",\"url\":\"https:\\\/\\\/www.capitalfm.co.ke\\\/business\\\/2020\\\/10\\\/kengen-to-earn-sh118mn-from-clean-development-mechanism-project\\\/\",\"name\":\"KenGen to earn Sh118mn from Clean Development Mechanism Project - 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