The Scaling-up Renewable Energy Program (SREP) for low income countries was established within the Strategic Climate Fund. Its principal objective is to help low income countries make a transformational change to low carbon administered by the World Bank energy pathways by optimally exploiting their renewable energy potential to offset fossil-based energy supply. SREP helps capture other co-benefits such as reduced local air pollution, improved climate resilience and the diffusion of low carbon technologies and industries, while reducing greenhouse gas emissions.7
The SREP co-finances multilateral development bank (MDB) investments, with the aim of shifting generation of energy to renewables in place of conventional fuels such as oil and coal. Kenya is one of the six Pilot Countries selected to benefit from SREP. The SREP program will support Kenya’s initiatives towards achieving a transformational change that will lead the country towards a low greenhouse gas (GHG) emission development pathway by harnessing the abundant renewable energy resources in Kenya.8
The following projects have been selected for implementation under SREP in order of priority:
- 400 MW of geothermal power generation in Kenya
- Hybrid Mini-Grid Systems
- Solar Water Heating.
SREP’s total contribution in Kenya is estimated at $85 million. SREP funding is provided for the above projects for a range of purposes, including feasibility studies, investment in physical infrastructure and capacity building. SREP will be providing funding alongside MDBs, DFIs, Kenyan government agencies and the private sector.