News and Events

Nairobi, Kenya, Friday, August 16, 2024: Kenya Electricity Generating Company PLC (KenGen), Africa’s premier green energy generator, has been inducted into the Morgan Stanley Capital International (MSCI) Frontier Markets Small Cap Index. This significant development signals a potential surge in foreign direct investments for the NSE-listed firm, highlighting its strategic importance in the global energy sector.

This strategic capital investments milestone enhances KenGen's visibility and attractiveness to global investors, positioning it as a key player in the frontier markets landscape.

“This development is expected to enhance shareholder value by attracting more international investment, thereby increasing liquidity and potentially driving up share prices,” said Eng. Peter Njenga, KenGen’s Managing Director and CEO.

The MSCI Frontier Markets Small Cap Index serves as a crucial benchmark for institutional investors seeking to gain exposure to emerging economies with high growth potential. KenGen’s inclusion in this index underscores its robust financial performance, innovative energy solutions, and commitment to powering Kenya's future sustainably.

This inclusion reaffirms KenGen's commitment to delivering affordable and reliable energy solutions to the nation, fostering economic growth, and contributing to Kenya’s vision for a green energy future.

In statement responding to the news, the Nairobi Securities Exchange (NSE), said being part of the MSCI Frontier Markets Small Cap Index provides investors with a unique opportunity to invest in companies like KenGen which have strong growth prospects, solid governance, and a proven track record in the energy sector.

“The move will enable wider and deeper coverage of Kenya’s equity market increasing the visibility of companies listed on the NSE and enhance their attractiveness to global investors as the indices serve as benchmarks for institutional investors looking to gain exposure to frontier markets,” said Mr. Frank Mwiti, NSE Chief Executive Officer.

“This inclusion is a testament to KenGen’s consistent performance and strategic growth initiatives. We are thrilled to be recognized on such a prestigious global platform, which will undoubtedly attract more investment into our company and, by extension, make Kenya an attractive investment option,” said Eng. Peter Njenga.

The broader impact of KenGen’s inclusion in the MSCI Frontier Markets Small Cap Index extends beyond the company, contributing to the overall growth and stability of Kenya’s financial markets. This move is anticipated to inspire confidence among international investors, thereby fostering an environment conducive to further foreign investment and economic development.

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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 1,725MW, of which over 86% is drawn from green sources namely: Hydro (826MW), Geothermal (753.8MW), Wind (25.5MW). The balance is from Thermal.

About MSCI

MSCI is a leading provider of critical decision support tools and services for the global investment community. The firm plays a critical role in enabling investors to understand and analyze key drivers of risk and return and confidently build more effective portfolios.

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.

Nairobi, Tuesday, July 17, 2024: Kenya Electricity Generating Company (KenGen) is to add 42.5MW of solar energy in Seven Forks area in a move to scale up Kenya’s green energy deployment.

The project is expected to last for twenty-eight (28) months and seeks to install a 42.5MW solar power plant in the home of the Seven Forks dams where KenGen generates most of its hydroelectricity. The additional capacity will not only scale up renewable energy, but also cushion Kenyans against the rising cost of power as it will complement the hydroelectricity generation during the day and save water for electricity generation at night, especially during drought.

The project being implemented in partnership with the French Development Agency (AFD) is the first of its kind for the NSE-listed company as it aims to deliver more renewable energy to the national grid in the wake of climate change.

The signing ceremony was attended by Principal Secretary (PS), State Department for Energy, Alex Wachira, KenGen Managing Director and CEO, Eng. Peter Njenga, French Ambassador to Kenya HE Arnaud SUQUET and AFD Country Director, Bertrand Willocquet.

“France is keen on partnering with Kenya in the deployment of renewable energy to stem climate change for which Kenya has shown its prowess as demonstrated in the Olkaria Geothermal Field and the Seven Forks area,” Willocquet said.

Speaking during the signing, PS Wachira welcomed the move, describing it as a big win for Kenya.

“The project will provide affordable, reliable, clean energy, create employment opportunities and community engagement through Corporate Social Responsibility (CSR). Indeed, Kenya and France have enjoyed longstanding cordial relations, especially in the energy sector and this cooperation continues to advance our energy infrastructure for the benefit of the great people of Kenya,” he added.

KenGen Managing Director and CEO, Eng. Peter Njenga described the partnership as timely, saying the company was working to scale up its renewable energy capacity by adding additional electricity drawn from clean sources, moving Kenya towards a 100% green energy transition.

“As you are aware, KenGen is committed to achieving Kenya's goal of increasing its renewable energy capacity to 100% by 2030. We have made significant progress towards this goal and our partnership with AFD has been instrumental in achieving this great milestone. We are now ready to develop our 42.5MW solar power project, adding more renewable energy to the national grid within 28 months,” said Eng Njenga.

“This project is going to complement hydro during the day when the sun's intensity will be high, especially during the dry season. That way, we can conserve water for power generation, mostly at night,” he added.

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Note to Editor:

About KenGen

About AFD

Agence Française de Développement (AFD) implements France’s policy on international development and solidarity. Through its financing of NGOs and the public sector, as well as its research and publications, AFD supports and accelerates transitions towards a fairer, more resilient world. It also provides training in sustainable development (at the AFD Campus) and other awareness-raising activities in France.

With our partners, we are building shared solutions with and for the people of the Global South. Our teams are at work on more than 4,000 projects in the field, in the French Overseas Departments and Territories, in 115 countries, and in regions in crisis. We strive to protect global public goods – promoting a stable climate, biodiversity, and peace, as well as gender equality, education, and healthcare. In this way, we contribute to the commitment of France and the French people to achieve the Sustainable Development Goals (SDGs). Towards a world in common.

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.