Nairobi, Wednesday, November 30, 2022: East Africa’s leading energy producer, Kenya Electricity Generating Company PLC (KenGen) has posted a Ksh.4.7 billion profit after tax for the period ending June 30, 2022, more than double the Ksh.1.8 billion posted by the company over the same period last year.

The increase representing a 157% year-on-year rise, is attributable to business growth at a time when the NSE-listed company commissioned 86MW Olkaria I Unit 6 earning a tax expense reduction.

During the same period, revenue grew by 7.5% from Ksh.45.7 billion in 2021 to Ksh.49.2 billion, as the company continued to benefit from its investments in geothermal which ensured stable supply despite low generation from hydropower plants due to poor hydrology in most parts of the year.

Over the period ending June 30, 2022, KenGen generated more than 70% of the country’s renewable energy. This came from the company’s total fleet of hydro, geothermal, wind, and thermal, with a combined capacity of 1,904MW which delivered 7,918kWh during the year.

The KenGen board has subsequently recommended a first and final dividend of KShs 0.20 per ordinary share, amounting to a total dividend payout of KShs 1.3 billion for the year.

Commenting on the results, KenGen Acting Managing Director and CEO, Abraham Serem said: “KenGen has strong business fundamentals, posting stable results backed by its growth, innovation, and expansion strategy. We are pleased to report growth in profit after tax for the year ended June 30, 2022, despite prolonged drought which has affected hydropower generation during the period under review. We look forward to a promising year ahead buoyed by expected increased economic activities.

Mr. Serem went on to state: “From an innovation perspective, we are particularly keen to explore opportunities in the E-mobility space, which we recently delved into by unveiling four electric vehicles which we will use to collect data over the medium term with the view of informing future investment decisions on the same.”

KenGen will continue supporting geothermal power development in the region as well as exploring new business opportunities that are consistent with its renewable energy focus. For 2022, the company looks to kick off the redevelopment of a forty-year-old 45MW Olkaria I geothermal power plant to give it a new lease of life and boost its capacity to more than 50MW as well as the uprating of Olkaria I Additional Units 4 & 5 and Olkaria IV. This project seeks to grow the capacity of the two geothermal power stations from the current 280MW to 320MW.

Ends.

Notes to the Editor

About KenGen

Kenya Electricity Generating Company PLC - KenGen is the leading electricity generation company in the Eastern Africa region with an installed generation capacity market share of more than 60%. The company’s primary business is to provide safe, reliable, and competitively priced electric energy for the country in an environmentally friendly and sustainable manner while creating value for its stakeholders.

Today, KenGen PLC has an installed generation capacity of 1,904MW, of which over 86% is drawn from green sources namely: Hydro (826MW), Geothermal (799MW), Thermal (253MW), and Wind (25.5MW).

For media queries please contact:

Frank D. Ochieng,

Tel: 0721816896

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Nairobi, Friday, October 28, 2022:  The Board of Directors of Kenya Electricity Generating Company PLC (KenGen) has in its sitting of Friday, October 28, 2022, appointed Abraham Serem as Managing Director and CEO in an acting capacity.

Mr. Serem takes over from Rebecca Miano, who has been appointed Cabinet Secretary (CS) for East African Community (EAC), Arid and Semi-Arid Lands, and Regional Development.

Until his appointment, Mr. Serem has been the General Manager of Human Resources and Administration of the Company since March 1, 2016, when he joined KenGen.

Mr. Serem will be responsible for overseeing the transition process of the NSE – listed firm at a time when the entire country is undergoing changes, following the August General Elections which ushered in a new government.

Speaking today, while making the announcement, KenGen Board Chairman, General (Rtd) Samson Mwathethe congratulated the outgoing Managing Director and CEO for what he described as an exemplary and stellar performance during her tenure.

“Mrs. Miano led KenGen through an action-packed phase of steady growth which continued over the duration of her leadership, putting KenGen firmly on an upward trajectory,” said Chairman Mwathethe, adding, “Her biggest test was perhaps the COVID-19 pandemic which threatened energy utilities across the world, but she was able to steady the ship and deliver good results, even at the peak of COVID-19 restrictions.”

The Chairman hailed Miano for unlocking KenGen’s diversification strategy and rolling out several multimillion drilling consultancy projects in the region, most notably, in the Horn of Africa including, Ethiopia and Djibouti, where KenGen currently has active geothermal drilling projects.

“We will also remember Mrs. Miano for her role in championing KenGen’s position in the climate action campaign, not only locally, but also going all out to put the company on the global map,” said Chairman Mwathethe.

General (Rtd) Mwathethe exuded confidence that the trend set by the outgoing CEO will continue into the transition period and beyond, noting that the company had put in place a robust succession plan which has enabled it to have a smooth change in leadership over the years.

Mrs. Miano will be the fifth to exit the company since the unbundling of the energy sector in 1997 at a point when the generation side of the business (Kenya Power Company) was hived off from the off-taker and renamed KenGen.

Ends….
Notes to the Editor

About KenGen

Kenya Electricity Generating Company PLC - KenGen is the leading electricity generation company in the Eastern Africa region with an installed generation capacity market share of more than 60%. The company’s primary business is to provide safe, reliable, and competitively priced electric energy for the country in an environmentally friendly and sustainable manner while creating value for its stakeholders.

Today, KenGen PLC has an installed generation capacity of 1,904MW, of which over 86% is drawn from green sources namely: Hydro (826MW), Geothermal (799MW), Thermal (253MW), and Wind (25.5MW).

For media queries please contact:

Frank D. Ochieng,
Tel: 0721816896
This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.

Olkaria, Naivasha, Tuesday, July 26, 2022: President Uhuru Kenyatta has today commissioned KenGen’s Olkaria I Additional Unit (AU) 6 Geothermal Power Plant, injecting an additional 86MW into the national grid further advancing Kenya’s green energy leadership.

The power plant, whose groundbreaking event was graced by President Kenyatta in 2018, propels KenGen’s total installed energy capacity to 1,904MW while its geothermal capacity now stands at 799MW. The commissioning of the plant further demonstrates the government’s effort to build a greener national energy pool from clean energy sources.

At the same time, President Kenya also commissioned another 172MW Olkaria V geothermal Power project earlier developed by KenGen with construction being completed in 2019.

Speaking when he presided over the official ceremony at Olkaria, President Kenyatta commended the KenGen team and stakeholders involved in undertaking the project which was implemented during the COVID-19 peak periods in 2020 and 2021.

The President noted that the commissioning of the power plants was aligned with the Least Cost Power Development Plan (LCPDP) in support of the Government’s Big Four Agenda.

“This is indeed a great milestone for not only KenGen but the rest of Kenyans as far as developing clean energy is concerned. Clean and safe energy is increasingly becoming vital in energy development, and it is through this approach that we shall attain universal access to electricity in our nation and meet key energy needs,” said the President.

While expressing satisfaction with the country’s clean energy development milestones, the Head of State noted that his government has put in place robust plans to ensure the country attains a 100 percent transition to clean energy by 2030.

“Since 2013, my administration has increased electricity access from 2.3 million connections to 8.6 million by the end of June 2021, thereby achieving an electricity access rate of over 75%. With 90 percent of this coming from renewables, it is my hope that by 2030, we shall have a 100 percent transition,” said the President.

During the event, Cabinet Secretary, Ministry of Energy, Amb. Dr. Monica Juma noted that the Ministry will continue to fulfill its mandate of providing clean and affordable energy for the nation with a focus on countering climate change.


“The completion of this project marks another milestone in Kenya’s efforts towards achieving energy security as well as accelerating economic growth through improved energy access. It represents an important moment in our efforts to reduce the country's reliance on fossil fuels and create a more sustainable future for us all,” said the CS.  

For his part, KenGen Board Chairman, Gen. (Rtd) Samson Mwathethe said: “This project is vital for our nation because considering that adequate supply of electricity is undeniably a primary enabler for our economic development. Through the experiences of this project, we are glad we managed to gain new experiences in geothermal development. Notably, the commissioning of Olkaria I Unit 6 propels us an inch closer to the Geothermal Gigawatt Club.”

His sentiments were echoed by KenGen Managing Director and CEO, Rebecca Miano, who noted that the company’s geothermal agenda was to increase production in line with the growing demand for power while also ensuring that the business lives up to the expectations of shareholders.

KenGen aims to deliver more green energy projects in the medium and long-term focused on supporting the Government’s economic growth agenda and clean energy development.

The company is also seeking to deliver over half the capacity from geothermal development and the rest from other clean sources.

Ends…/


Note to Editor:

About KenGen
Kenya Electricity Generating Company Plc, KenGen is the leading electricity generating company in Eastern Africa, with an installed capacity market share of more than 60%. The company’s primary business is to provide affordable and dependable electric energy for the country in an environmentally friendly and sustainable manner while creating value for its stakeholders.
Today, KenGen has an installed generation capacity of 1,904MW of which over 86% is drawn from green sources namely: Hydro (826MW), Geothermal (799MW), Thermal (253MW) and Wind (26MW).

For media queries please contact:  
Frank D. Ochieng, Tel:0721816896
This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.

Nairobi, Monday, 25th May 2022: The national demand for electricity has hit a new peak demand of 2,051MW up from 2,036MW recorded in November 2021, pointing to an accelerated growth and recovery in demand which slowed down in the wake of COVID-19 pandemic.

The new peak demand was recorded on 12th May 2022 in the Daily System Operation and Dispatch Analysis Report by Energy and Petroleum Regulatory Authority (EPRA). This growth was driven mainly by renewable energy sources with geothermal energy making the greatest contribution, giving further boost to Kenya’s climate action agenda.

According to the Daily Power Generation and Dispatch Analysis Report released on 19th May 2022 by Energy and Petroleum Regulatory Authority (EPRA), the country’s highest energy gross demand was recorded on 18th May 2022, registered a 2.5% growth to record a new peak of 37,273.17MWh up from 36,380.63MWh in November last year.

NSE-listed electricity generator, KenGen PLC’s geothermal power stations in Olkaria, Naivasha provided the largest share of 14,763.37MWh during the recent analysis. KenGen currently boasts of 713MW of geothermal energy generation capacity and is readying to commission another 83MW in its newest power plant, the Olkaria I additional unit 6.

At the same time, the EPRA May 19th, 2022, report also revealed that the total amount of electricity generated by KenGen through its major hydro power stations exceeded the National Control Centre (NCC)’s dispatch projections by 1,988.42MWh, denoting a 25% increase. KenGen’s total installed hydro capacity currently stands at 826MW.

In the same report, Gitaru, Kindaruma, Kamburu, and Kiambere Power Stations were among the hydro power stations that exceeded the projected power generation output. The stations are part of the Seven Forks cascade which forms a crucial component of KenGen’s power generation infrastructure.

Commenting on the report, KenGen Managing Director and CEO, Rebecca Miano said the report is a reflection of KenGen’s ongoing strategic efforts to meet the country’s growing demand for electricity through harnessing Kenya’s rich renewable energy sources.

“KenGen is committed to ensuring steady and reliable supply of competitively priced electricity to support Kenya’s economy. The company is doing this by accelerating deployment of renewable energy sources such as geothermal, hydro, wind, and solar.” said the KenGen MD.

In June last year, KenGen joined United Nations Global Compact (UNGC) Business Ambition for 1.5°C Campaign, saying it is banking its future on green, affordable and accessible energy, including geothermal, hydro, wind, and solar.

“Our future project pipeline is green, including geothermal, wind, solar and hydro. The projects will be implemented in phases with the first expected to be commissioned by June 30th 2022,” said Miano.

Ends...//

Note to Editor:

About KenGen

Kenya Electricity Generating Company PLC - KenGen is the leading electricity generation company in Eastern Africa region with an installed generation capacity market share of more than 60%. The company’s primary business is to provide safe, reliable, and competitively priced electric energy for the country in an environmentally friendly and sustainable manner while creating value for its stakeholders.

Today, KenGen PLC has an installed generation capacity of 1,818MW, of which over 86% is drawn from green sources namely: Hydro (826MW), Geothermal (713MW), Thermal (253MW), and Wind (26MW).

For media queries please contact:

Frank D. Ochieng Tel:0721816896

This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.

Nairobi, April 21, 2022: Kenya Electricity Generating Company PLC (KenGen) has completed drilling of the seventh geothermal well in Ethiopia further bolstering the company’s renewable energy footprint in the Horn of Africa.

This latest announcement is from the Aluto-Langano geothermal site where KenGen is implementing a drilling consultancy project for the state-owned Ethiopian Electric Power (EEP) company. The drilling of the seventh well was completed on schedule at a depth of 3,000 meters.

“This is the second 3,000 meters well we have drilled in Ethiopia so far, and I must commend our teams on the ground for successfully delivering to expectations despite the threats of COVID-19 and security situation in Ethiopia at the time of project implementation,” said KenGen Managing Director and CEO, Rebecca Miano.

This milestone reaffirms the NSE-listed company’s expertise in geothermal development in Africa, having earlier drilled the deepest geothermal well in the Horn of Africa also at a depth of 3,000 meters as announced by KenGen on November 11, 2021.

Commenting on the project timelines, Miano said: “We have now embarked on drilling of the fifth geothermal well under the EEP project in Aluto-Langano and we expect to complete the work in a fortnight’s time.”

The Ethiopian and Djiboutian ventures are part of KenGen’s ambitious diversification strategy, in which the company is seeking to acquire new revenue streams by offering commercial drilling services, geothermal consulting and other related services across Africa.

In November last year, KenGen announced that it had started work to deliver three geothermal wells in Djibouti setting in motion a Ksh.0.7 billion contract.

Locally, KenGen continues to grow Kenya’s geothermal capacity and has now started drilling of additional geothermal wells in Eburru geothermal field located in Naivasha.

Kenya is Africa’s number one geothermal energy producer and among top 10 in the world with an installed capacity of 863MW with KenGen contributing about 713MW. The country has an estimated geothermal potential of 10,000MW spread along its part of the Rift Valley circuit.

. . . . . . . . . Ends ..........

Note to Editor:

About KenGen

Kenya Electricity Generating Company PLC - KenGen is the leading electricity generation company in Eastern Africa region with an installed generation capacity market share of more than 60%. The company’s primary business is to provide safe, reliable, and competitively priced electric energy for the country in an environmentally friendly and sustainable manner while creating value for its stakeholders.

Today, KenGen PLC has an installed generation capacity of 1,818MW, of which over 86% is drawn from green sources namely: Hydro (826MW), Geothermal (713MW), Thermal (253MW), and Wind (25.5MW).

For media queries please contact:

Frank D. Ochieng, Tel:0721816896

This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.