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KenGen relaunches Sh4bn carbon credit sale after deal collapses

Kenya Electricity Generating Company (KenGen) workers walk at the Olkaria II Geothermal power plant near the Rift Valley town of Naivasha, Kenya on February 15, 2018. KenGen is aligning with Paris Agreement carbon markets by advancing innovative green and low-carbon energy technologies.

Photo credit: Reuters

By  Patrick Alushula

Business Reporter

Nation Media Group

Kenya Electricity Generating Company (KenGen) has reopened the search for a buyer for its 4.62 million Certified Emission Reductions (CERs) after a previous deal worth $32.05 million (Sh4.14 billion) fell through.

The electricity generator had entered into a contract with Sintmond Group —a Nairobi-based firm that offers energy solutions, inspections and waste disposal or recycling — to buy the CERs, but KenGen now claims the firm has failed to honour the payment.

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