- Kenya’s largest electricity producer intends to provide additional geothermal power to bitcoin miners.
- Geothermal energy in the area is estimated to be over 14,000 MW with 10,000 MW located along the Rift Valley circuit.
- More than 80% of KenGen’s power is renewable energy, but it does not openly disclose excess capacity.
KenGen (Kenya Electricity Generating Company Plc), a major supplier of electricity in Kenya, is looking to provide additional geothermal power to bitcoin mining companies, according to a report. Quartz Africa,
“We have the space and the power is close, which helps with sustainability,” Peketsa Mwangi, KenGen’s director of geothermal development, reportedly explained in an interview.
Kenya is the top producer of geothermal energy in Africa providing just over 14,000 megawatts (MW) of electricity with an equipment capacity of 863 MW. With the Rift Valley Circuit alone, an estimated 10,000 MW of geothermal energy is largely idle.
Miners wishing to take advantage of this offering have contacted KenGen to discuss the proposal and “some have requested to start with 20 MW and later upscale,” Mwangi said.
Given that there are currently no bitcoin mining firms in Africa, it is reported that those interested in the offering are expected to be mainly from the US or Europe.
Currently more than 80% of KenGen’s generated electricity is provided from renewable energy sources such as hydro and wind, in addition to geothermal use. However, KenGen does not openly disclose its standby power potential.
The publication reports that by offering clean energy, the company hopes to contribute to the reduction of carbon emissions that are often associated with mining bitcoin, Kenzen said. However, the government of Kenya has taken an entirely different approach to bitcoin and the digital currency due to fears of scams in the wider market.
Earlier, Kenya’s central bank released a document detailing its willingness to research central bank digital currency (CBDC). However, the central bank noted that Kenya’s recent experience in innovation, through the success of M-Pesa, a mobile banking service, could be put at risk if they create a CBDC without good reason.
“The usefulness of technology lies not in its uniqueness but in its ability to solve a serious social problem. One example is the rise of mobile money in Kenya which has positioned our country as the cradle of innovation in Africa.”
