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The agreement, sealed by Trade CS Rebecca Miano, Energy CS Davis Chirchir, Roads, Transport CS Kipchumba Murkomen, and President & CEO of Toyota Tsusho Ichiro Kashitani, marks a crucial step towards sustainable development.
What's in the Agreement?
The agreement emphasizes investment in the green energy value chain, focusing on projects such as the Meru Wind power project, Menengai Geothermal, and Isiolo solar power projects.
Additionally, it promotes electrified vehicles, particularly Hydrogen Electric Vehicles (HEVs), and aims to enhance the car assembly industry.
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The agreement comes just days after Toyota Tsusho officials visited Kenya on January 16 and met with stakeholders including CS Miano, and a delegation from CFAO Kenya.
Toyota Tsusho Corporation's engagement with Kenya dates back to 2012 when it acquired CFAO Kenya, formerly known as Toyota Kenya.
CFAO Kenya and the government jointly own the Kenya Vehicle Manufacturers plant in Thika.
The government intends to revive this plant to manufacture amorphous alloy transformers, addressing past reported shortages and ensuring a stable power supply.
The collaboration is poised to enhance the reliability of Kenya's energy sector, crucial for economic growth and stability.
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With the government's focus on amorphous metal transformers and Toyota Tsusho's involvement in power generation projects like the Menengai Power plant, the nation moves closer to achieving energy sufficiency.
As part of the agreement, CFAO Kenya, under Toyota Tsusho Corporation, will advocate for the adoption of hybrid and battery-powered electric vehicles, aligning with global efforts towards sustainable transportation.