Geothermal energy, a technology that harnesses Earth’s heat, is experiencing significant growth worldwide. According to the International Energy Agency (IEA), installed capacity reached 15 gigawatts (GW) in 2023, marking an increase of nearly 40% over the last decade.
A Central Role for Kenya
Kenya has stood out among emerging markets by playing a central role in this progression. Alongside Turkey and Indonesia, it accounts for over 75% of new installed capacities. Through substantial investments and a strategy for energy diversification, the country plans to nearly double its geothermal production by 2030.
These efforts position Kenya as a vital player in Africa’s energy sector. Its large-scale projects, primarily located in the Rift Valley region, aim to maximize its geothermal potential while meeting the growing demand for electricity.
Global Challenges and Opportunities
Despite the progress made by emerging markets, the United States remains the world’s leading producer with infrastructure developed as early as the 1980s. However, developing economies, particularly in East Africa, could play a crucial role in the future balance of the energy market.
Geothermal development in Kenya also presents business opportunities. Local and international stakeholders, including technology providers and investors, are focusing on this dynamic market. Moreover, integrating this resource with hydropower energy strengthens a sustainable and competitive energy mix.
