The Government of Kenya and Fortescue Future Industries have reinforced their commitment to progress towards developing a major green energy and fertiliser project together.
President of Kenya H.E. Dr. William Ruto CGH and Executive Chairman of Fortescue Dr. Andrew Forrest signed an Investment Support and Implementation Agreement, which will accelerate the Framework Agreement signed during COP27, for the potential development of a 300MW capacity generation green ammonia and fertiliser facility in the Naivasha vicinity of Olkaria geothermal field.
The parties have also agreed, as part of the project’s scope, to include the supply of green electricity to Kenya’s grid.
The agreement outlines a commercial framework for the implementation of the project, including government support for the critical resources, infrastructure and off-take.
President of Kenya H.E. Dr. William Ruto CGH said, “Today we mark an important milestone in our commitments to not only reduce Green House Gas emissions, but more significantly make a bold statement that Kenya is on an ambitious green growth agenda.”
“We are also walking the talk by taking steps that proactively exploit the opportunity to not only provide solutions to the global climate crisis, but also leapfrog our people and economies into a Green Industrial Age.”
“Our plan to achieve radical socio-economic transformation commits our government to accelerate geothermal resource development, reduce the cost of renewable energy and transition to 100% clean energy generation, by 2030. This requires major equity and technological investments.”
Fortescue Founder and Executive Chairman Dr. Andrew Forrest said, “Momentum is accelerating Kenya’s vision to establish itself as a world leader in the production of fertiliser made using green ammonia. In doing so its leadership is providing Kenya additional energy security that steps beyond the use of fossil fuels, most importantly stopping the reliance on Russian imported fertiliser.
“This partnership sets Kenya on a path to industrial decarbonisation and we are determined to be with the people of Kenya on that journey, every step of the way.”
Australia’s Chargé d’affaires a.i. to Kenya, Linda Gellard, was also at today’s signing and said, “Today’s agreement is a significant contribution to Australia’s long-term engagement with Kenya and the region. The Australian Government welcomes this ground-breaking partnership, providing a high-quality blueprint for others to follow.”
The Investment Support and Implementation Agreement further entrenches FFI’s commitment to fast-track its engineering and environmental studies, as well as early procurement for the development of the industrial facilities. Whilst for the Kenyan Government it affirms its commitment to support the promotion, facilitation, and protection of FFI’s investment.