NAIROBI, Thursday, November 28, 2024: Kenya Electricity Generating Company (KenGen) PLC, a leader in Africa’s geothermal development, has recorded major progress in its Ksh. 250 million geothermal development contract with the state-owned Eswatini Electricity Company (EEC). This milestone underscores KenGen’s continued commitment to advancing renewable energy across Africa.

The contract, awarded earlier this year, tasks KenGen with conducting comprehensive geoscientific studies to assess geothermal potential in three prospective regions of the Southern African country, Eswatini. The studies, aimed at establishing the feasibility of developing a geothermal power plant, are now well underway, with completion expected in the next few months.

Commenting on the progress during the NSE-listed company’s 72nd Annual General Meeting (AGM) held today, KenGen Managing Director and CEO, Eng. Peter Njenga reaffirmed the company’s dedication to advancing renewable energy solutions across Africa.

“Our strategic focus is on expanding our footprint beyond Kenya and leveraging our geothermal expertise to foster sustainable development across the continent,” said Eng. Njenga, adding, “This partnership with Eswatini marks another significant step in our mission to support Africa’s renewable energy ambitions and mitigate the effects of climate change.”

Eswatini, a landlocked Kingdom in Southern Africa bordered by South Africa and Mozambique, has set its sights on harnessing geothermal energy to strengthen its renewable energy capacity and enhance energy security. This aligns with the country’s broader commitment to sustainable development and global efforts to combat climate change by reducing carbon emissions.

“I am optimistic that our geoscientific studies will confirm the viability of Eswatini’s geothermal resources, enabling the country to increase its renewable energy portfolio and enhance its baseload capacity. This project also reinforces KenGen’s strategy to diversify revenue streams and ensure financial sustainability through geothermal consultancy and related services,” said Eng. Njenga.

Speaking during the AGM, KenGen Board Chairman, Eng. Frank Konuche described the new partnership as a strategic move by Eswatini to tap into its natural resources while contributing to Africa’s sustainable energy goals. “For KenGen, the project is a testament to our growing influence in geothermal development across the continent,” said Eng. Konuche.

KenGen’s experience and expertise in geothermal drilling, honed at Kenya’s Olkaria geothermal fields and in successful projects in Ethiopia, Djibouti, and Tanzania, played a strategic role in securing the Eswatini contract. The company’s reputation for excellence in geothermal consultancy and drilling services has solidified its position as a trusted partner in the region.

The Eswatini project is one KenGen’s latest geothermal development contract in Africa, following successful ventures in Djibouti, Ethiopia, and Tanzania. Kenya remains the continent’s leading geothermal energy producer and ranks among the top 10 globally, with an installed geothermal capacity of 754MW.

KenGen’s expertise in geothermal energy development continues to position the company as a key driver of Africa’s green energy transition while contributing to economic growth and environmental conservation across the region.

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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,