first_imgInvestor group targets planned GE coal plant in Kenya FacebookTwitterLinkedInEmailPrint分享Thomson Reuters Foundation:A group of investors in U.S. conglomerate General Electric (GE) has publicly opposed its plans to buy a stake in a Kenyan coal-fired plant, claiming the project would damage the environment and undermine efforts to fight global warming.In a public letter to GE, nearly five dozen institutional and individual shareholders called on the company to reverse course on its intentions to purchase a 20 percent stake in a planned 1,000-megawatt coal plant on Kenya’s Lamu island.The move follows years of controversy over the Kenyan government’s plans to build East Africa’s first coal-fired power plant on Lamu, a United Nations World Heritage site. The project has divided communities, and environmentalists fear the plant will destroy the marine environment of the region, a tourist destination that is one of the best-preserved Swahili settlements.It was unclear how much GE stock the letter’s signatories hold. The information was not included in the missive, and their spokeswoman said she did not have the data. GE did not immediately answer an emailed request for comments.Among those signing the letter was the Local Authority Pension Fund Forum, an association of more than 70 United Kingdom-based public sector pension funds with about $300 billion in assets under management. Also signing were several religious groups.GE signed an agreement in May to design and help build the plant along with Amu Power, a consortium contracted with delivering the $2 billion project. With the deal, GE, through its affiliates, also will acquire a stake in Amu.More: Investor group opposes General Electric plans for Kenyan power plantlast_img