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Originally published by The Standard BusinessNovember 3, 2025
9h ago
How Sintmond's bitter fallout with Kengen cost it Sh3bn carbon deal
This was despite Sintmond having emerged as the highest bidder having offered to buy the carbon credits at Sh2.99 billion..
✨ Key Highlights
Sintmond Group, a local energy firm, lost a Sh2.99 billion carbon credits deal with Kenya Electricity Generating Company (Kengen) despite being the highest bidder. This fallout stems from previous strained relations between the two entities.
- Sintmond Group lost a bid to procure 6.38 million Certified Emission Reductions (CERs).
- Sintmond offered Sh2.99 billion for the carbon credits, which was Sh400 million higher than the next bid.
- The deal was awarded to the second-highest bidder due to "soured relations" from a similar deal last year.
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