NAIROBI, Monday, November 25, 2024: Kenya Electricity Generating Company PLC (KenGen) has been appointed to the Multi-Sectoral Technical Committee (MSTC), a high- level team tasked with shaping Kenya’s carbon market framework.
This prestigious three-year appointment, effective November 22, 2024, was announced by the Cabinet Secretary for Environment, Climate Change, and Forestry, Hon. Aden Duale, through a gazette notice. The move positions KenGen at the forefront of advancing the Africa’s carbon trading future and unlocking new opportunities in the fight against climate change.
Reacting to the appointment, KenGen Managing Director and CEO, Eng. Peter Njenga, hailed
it as a timely recognition of the company’s contributions to sustainable development.
“We are honored to join this climate-positive committee, which will a key role in advancing the climate agenda not just in Kenya but across Africa. KenGen’s extensive experience in renewable energy and carbon credit generation uniquely positions us to provide valuable insights and help shape a robust carbon market framework for Kenya,” said Eng. Njenga.
The NSE-listed company CEO added, “This appointment underscores KenGen’s leadership in clean energy innovation, driving sustainable solutions that power our nation and contribute to global efforts to combat climate change.”
The appointment, made under the Climate Change Act, 2013, and the newly enacted Climate Change (Carbon Markets) Regulations, 2024, establishes a technical structure to oversee the development of carbon projects and facilitate participation in carbon markets. The initiative is expected to catalyze the growth of Kenya’s carbon economy, paving the way for the country to monetize its climate actions through the sale of carbon credits.
KenGen, a trailblazer in clean energy production, brings a wealth of expertise to the committee, having earned a cumulative 6.9 million carbon credits from six Clean Development Mechanism (CDM) projects registered under the United Nations Framework Convention on Climate Change (UNFCCC). These projects include the Olkaria II Geothermal Expansion, Redevelopment of Tana Hydro Power Station, and Ngong Wind Project, among others.
The MSTC is a multidisciplinary body comprising representatives from key government ministries, counties, and agencies. Its primary mandate is to provide technical advice to the Designated National Authority (National Environment Management Authority, NEMA) on carbon project assessments. This collaboration ensures alignment with international climate protocols while fostering local expertise and innovation.
KenGen’s inclusion in the MSTC aligns with its strategic focus on renewable energy, with over 90% of its electricity generated from clean sources such as geothermal, hydro, and wind. By leveraging its experience and technical know-how, KenGen aims to strengthen Kenya’s position as a leader in climate action and green energy.
Through the MSTC, Kenya is set to establish a robust carbon market, allowing public and private entities to trade emission reduction units, offsets, and mitigation outcomes. This mechanism will play a critical role in driving investments into climate projects and ensuring compliance with national and international regulations.
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Note to 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 1,785MW, of which over 93% is drawn from green sources namely: Hydro (826MW), Geothermal (754MW), Wind (25.5MW). The balance is from Thermal.
For media queries please contact: Frank D. Ochieng, Tel:0721816896 Email: 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.
Naivasha, Thursday, November 14, 2024: Kenya Electricity Generating Company PLC (KenGen) today hosted over 300 shareholders at its Olkaria Geothermal Site, offering them a rare, behind-the-scenes look at one of Africa’s most powerful geothermal energy operations. The tour, now in its tenth year, showcased how KenGen is harnessing natural resources to power a nation while steadily expanding its portfolio of sustainable energy sources.
Launched in 2011, KenGen’s annual shareholders’ tour seeks to deepen investor understanding of the company’s renewable energy strategy and to highlight the critical role shareholders play in shaping Kenya’s energy future. Olkaria, often hailed as the “Home of Geothermal in Africa,” produces 754MW of clean energy, underscoring Kenya’s capacity to leverage geothermal power for sustainable growth. With an estimated geothermal potential of 10,000MW, the site represents a cornerstone of KenGen’s renewable energy ambitions.
The event, which began with a ceremonial send-off from Nairobi’s Central Business District, was led by KenGen Board Chairman, Eng. Frank Konuche and Managing Director and CEO, Eng. Peter Njenga.
Eng. Konuche emphasized the company’s commitment to driving value for shareholders while contributing to a green energy future. “Today’s tour offers our shareholders a tangible view of their investment’s impact,” he stated. “Our focus on geothermal, hydro, wind, and solar reflects an unwavering commitment to sustainability and long-term growth for both our investors and the communities we serve.”
Beyond the tour, shareholders were presented with KenGen’s financial highlights and strategic projects designed to ensure future profitability and market leadership. The company recently reported a 35% profit increase, driven by robust revenue from its geothermal and hydroelectric power plants. “In a challenging economic climate, our operational efficiency and disciplined approach to cost management have sustained our growth trajectory,” said Eng. Njenga, pointing to KenGen’s stable operating profit of Ksh.9.6 billion.
The tour also featured updates on major projects in KenGen’s pipeline, including the rehabilitation of the Olkaria I plant to enhance capacity, development of the 100MW Marsabit Wind Project, and the construction of a 42.5MW solar array at the Seven Forks Dams. “Our goal is to lead Kenya’s green energy transition through pioneering investments that not only support national development but position KenGen as a driving force in sustainable power generation across Africa,” Eng. Njenga explained.
Eng. Njenga reaffirmed KenGen’s dedication to shareholder value, announcing an anticipated dividend payout following the company’s Annual General Meeting. “Our shareholders are at the heart of our success, and we are proud to deliver financial returns that reflect the growth and resilience of KenGen,” he said.
Ends…
Note to 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 1,725MW, of which over 93% is drawn from green sources namely: Hydro (826MW), Geothermal (754MW), Wind (25.5MW). The balance is from Thermal.
For media queries please contact: Frank D. Ochieng, Tel:0721816896 Email: 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.
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