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.