United Arab Emirates investor has committed some Ksh19 billion ($150 million) to build an electric vehicle manufacturing factory powered by reliable green in Ol Karia, Naivasha.

The major investments, Kenya government says, is a true testament of KenGen’s commitment to attract investors at its 8,292-acre Green Energy Park l which has already been gazetted as a Special Economic Zone where firms are guaranteed tax reliefs benefits.

The company, Aquilastar Corporate Investment has committed to start local production of electric vehicles (EVs) and is set to produce 50,000 units of both electric and plug-hybrids units every year by end of next year.

Once the facility is complete, it is set to create over 3,000 direct jobs and 10,000 others indirectly, a major boost to the government plan to create jobs for skilled youths in the country.

The investment in clean and green powered vehicles is also expected to catapult the government targets of reducing carbon emissions into the environment in line with Paris Climate Agreement that binds counties to reduce emissions buy phasing out reliance to fossil and dirty sources of energy such as coal.

According to the firm group chairman Abdulatif Alsayegh, the availability of clean, reliable and competitively priced geothermal power has attracted them to the area.

Addressing the press after ground-breaking ceremony in Ol Karia Naivasha, Alsayegh, said government policy and regulatory framework have been a key consideration in committing billions to drive the country and Africa future if green mobility.

KenGen chairman Alfred Agoi lauded the company investments, which he noted will create thousands of jobs for local youths and women while committing to facilitate the firm in accelerating its operations at the green energy park.

Agoi said that seven investors had shown interest in the industrial park, which had since been gazetted as a special economic zone where companies will tap clean and reliable cheaper and 100 per cent geothermal power.

He explained further that KenGen is accelerating its expansions plans for more green power with the geothermal rich Ol Karia holding the key to enriching the Kenya’s clean and sustainable energy power bank.

Currently, he noted that the country’s installed power capacity of green and renewable sources stands at 1,786 megawatts where 754 megawatts are sources from Geothermal.

KenGen Commercial Services Manager Kibet Rono, said the company’s reliable and lower power tariffs will shield investors from crippling high cost of energy.

Rono revealed the company is on course to adding extra 1,500 megawatts of power from renewable sources by 2034 to help the country meet its 100 per cent target of power sourced from renewable sources by 2030.

He said the energy giant has embarked on rehabilitation of Ol Karia one power plant where is projects to boost its power from the current 45 megawatts to 63 megawatts by the end of next year.

“We guarantee the growing list of investors of cost friendly and reliable green power all year at the expansive park as we drive the counties and Africa green industrialisation future and reduce carbon emissions footprint,” Rono said.

Nakuru County Executive Member for Lands John Kihagi welcomed the investment pointing out that it will create thousands of job opportunities to deserving youth.  The guarantee for reliable and lower power tariffs at the park has also attracted G42 firm which has committed to pump over $1 billion to establish a geothermal powered state of the art data centre.

KenGen’s expansive Green Energy Park is a revolutionary masterpiece plan to develop a fully and integrated ecosystem for both development and user-friendly utilities spanning up to 2045.

• A Tell Media / KNA report / By Erastus Gichohi