Akiira project plans drilling start for two additional wells for June 2016
Reported today from Kenya, Akiira Geothermal Ltd, a consortium developing a geothermal power project in Naivasha, Kenya, is planning to invest an additional Sh1.4 billion ($14 million) for the drilling of two additional wells for its 70 MW project.
Drilling of two more wells will start in June in Akiira Valley in Naivasha, The project last month received a Sh138 million grant from the African Union Commission.
Exploration drilling of the first well will start early June to be possibly followed by a second one at a total cost of $14 million (Sh1.4 billion), said Robert Bunyi, the outgoing chief executive of Akiira.
Climate change could cost global economy US$24 trillion
A new report by the London School of Economics and Political Science is the first comprehensive study to use an economic model to put a number on the climate value at risk.
A new report published on Monday has put the potential cost of climate change to the world economy at as much as US$24 trillion by 2100, underlining the urgent need for businesses worldwide to pay attention to it.
The report, led by researchers at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science and Vivid Economics, is the first comprehensive study to use an economic model to put a number on the climate value at risk.The study, published in the journal Nature Climate Change estimated that an average US$2.5 trillion, or 1.8 per cent, of the worlds financial assets would be at risk from the impacts of climate change if global temperatures rise by 2.5 deg C above its pre-industrial level by 2100.
Geothermal energy could attract textile factories to Olkaria, Kenya
Kenya will set up investors near geothermal plants to cut the cost of electricity and offer subsidies in order to compete with her neighbours.
Mr Mohamed said on Thursday that they will set up investors at the shores of Lake Naivasha near the geothermal power plant to cut transmission charges to make Kenya attractive.We are going to set them up at Naivasha near the geothermal plant where power is much cheaper since it is at the source, he said.He was speaking when he met a trade delegation composed of investors from China, the US, Australia, the Netherlands and Bangladesh who will also be visiting Tanzania and Ethiopia.
Industry 4.0: When humans and robots go hand in hand
Amid concerns that the rise of industrial robots may soon render humans obsolete, Swiss automation giant ABBs latest innovation may help shine a new light on what the future will look like when humans and robots can work together as partners.
Since January, political and business circles alike have been abuzz with talk of the fourth industrial revolution - the chosen topic of this years World Economic Forum (WEF) meeting held in Davos, Switzerland - and how it will transform the global economy in the coming years.
This technological revolution, which has the potential to disrupt entire industries and change the way we work and live, will see a fusion of technologies blurring the lines between the physical, digital, and biological spheres, says WEF founder and executive chairman Klaus Schwab.
