News and Events

Nairobi, Wednesday, February 15, 2023: Kenya Electricity Generating Company PLC(KenGen) has launched a food drive to the tune of Ksh.10 million targeting residents of nine counties in various parts of the country.

The food drive which targets contiguous communities in areas where the NSE-listed company operates electricity-generating power stations has been going on since November 2022 and seeks to alleviate the suffering of millions of families most affected by the prevailing drought.

According to the Ag. Managing Director and CEO, Abraham Serem, the food donations were targeted to marginalized communities and special interest groups including people living with disabilities, youth, children, and women saying they were hardest hit by the food crisis.

The nine counties targeted for the campaign include Machakos, Embu, Kilifi, Turkana, Nakuru, West Pokot, Migori, Kajiado, and Kitui where KenGen has an active presence as host counties of various power installations. Through the campaign, KenGen said it has distributed food rations to about 200 schools so far in a deliberate move to keep the students in schools.

The move comes against the backdrop of poor hydrology precipitated by five successive seasons of drought when the country received poor rainfalls leading to poor crop output and crop failure.

Speaking during the flag-off of the food donation caravans to various counties, Mr. Serem said the failure in rains had also affected most of the KenGen power generation plants which he said relied on water to produce electricity.

“Failure of the long and short rains in 2022 has greatly affected us in the hydropower stations where we have not been able to operate at full capacity due to low inflows of water in the large dams that feed our hydropower stations,” said Mr. Serem.

The CEO said the company had spent Ksh.10 million to provide relief food to ensure students have enough food to keep them in school as schools opened across the country after a long break.

“I want to commend KenGen for the good relations with the community, especially in efforts of water provision towards the community which was very scarce. I want to thank KenGen for the partnership they have had with both the County and National Government as well as the communities around them through their CSR program,” said Senator Mundingi.

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Note to Editor:

About KenGen

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).

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Nairobi, Wednesday, March 1, 2023, Kenya Electricity Generating Company PLC (KenGen) has reported a growth in total revenue of 11% to Ksh.27.5 billion for the six months ending December 31, 2022, from Ksh.24.7 billion in 2021.

The growth in revenue is attributed to higher energy sales due to increased geothermal production capacity, with the recently commissioned 86MW Olkaria I Additional Unit 6 geothermal power plant leading to growth in electricity unit sales from 4,006GWhs in 2021 to 4,200GWhs in the period ending December 2022.

The half-year results come against a prolonged drought which is one of the longest in recent history and KenGen says it has affected its hydro generation capacity due to the low water levels resulting from poor rains across successive seasons.

“In previous years, we would be having serious scenarios of power rationing affecting the entire country at a time like now when the rains have failed,” said KenGen Ag. Managing Director and CEO, Abraham Serem.

Mr. Serem however expressed confidence and satisfaction with the performance of the company during the period under review saying the company’s fundamentals were strong enough to support business growth into the future. He noted that the growth in revenue was a testament to the company's investment in renewable energy sources, particularly in geothermal power.

“Thanks to our geothermal-led strategy and investments in geothermal development over the years, we have been able to save the country from scenarios of power rationing as was the case in earlier years and we are confident that this growth will remain as we continue to work on stabilizing the national grid,” said Mr. Serem.

The NSE-listed company is on schedule to commence redevelopment of the forty-year-old 45MW Olkaria I geothermal power plant to boost its capacity to 63MW. This growth trajectory also includes upgrading of Olkaria I Additional Units 4 & 5 and Olkaria IV from the current combined 300MW to 340MW.

"We remain focused on our strategic initiatives, which include diversification of our revenue streams, innovation, and cost optimization. Today, our electricity is the most competitively priced and this has continued to cushion Kenyans from rising power prices,” said Mr. Serem adding, “We are confident that we will continue to deliver value to our shareholders and Kenyans going forward."

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Background information

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).

Press contacts.

Frank D. Ochieng, Tel: +254 0721816896
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