Businesses at the Naivasha Special Economic Zone will buy electricity at the cost of just Kshs 5 per kilowatt, which is more than five times lower than the average retail price in the country.
According to the latest Consumer Price Indices by the Kenya National Bureau of Statistics, the average cost of electricity in Kenya is Kshs 1,372.64 for 50kWh. This translates to Kshs 27.45 per unit.
President William Ruto says the reduced cost of electricity at the Naivasha Special Economic Zone is meant to ease the cost of operations.
“This is where the cheapest power will be found at Kshs 5 per kilowatt hour,” he said.
President Ruto made the remarks on Saturday at Maai Mahiu, Nakuru County, where he commissioned 90 MVA Naivasha Special Economic Zone Sub-Station.
He said the power station will use geothermal power to produce 100% clean energy, setting the pace for the country’s green industrialisation.
At the event, President Ruto issued licences to six companies that are expected to invest Kshs 30 billion at the Naivasha Special Economic Zone, thereby help create more than 3,000 jobs.
“I am very happy that one of the companies investing here will be producing steel that will be used to support our industrialisation agenda and our house programmes, among other economic activities,” he said.
The government is also establishing five special economic zones in Mombasa, Thika, Sagana, Eldoret and Busia.
