• 0711036000
  • Mon - Thur 07:45 - 17:00 (Fri 07:45 - 16:30)
  • KenGen Pension Plaza II

KGN 0964

Mombasa, Friday, October 27, 2023: Kenya Electricity Generating Company PLC (KenGen), has reported a significant 48% growth in profit after tax for the year ended June 30, 2023, surging to Ksh.5.02 billion up from Ksh.3.4 billion in the previous year.

At the same time, the NSE-listed company has reported a steady 14% growth in revenues from Ksh.47.48 billion in 2022 to Ksh.53.96 billion, largely driven by the company’s investments in geothermal energy.

“In a landscape filled with both opportunities and challenges, the KenGen team has demonstrated remarkable resilience. We are proud to announce a remarkable Ksh.5.02 billion representing a 48% growth in our profit after tax,” said the Managing Director and CEO, Eng. Peter Njenga, adding “This achievement reflects the hard work and dedication of our team and our commitment to providing clean, reliable energy to Kenyans,”

Speaking in Mombasa, Eng. Njenga attributed the impressive performance to the enhanced operational efficiency of the company’s geothermal fleet in Olkaria, Naivasha, further bolstered by a positive impact of the newly commissioned Olkaria I Additional Unit 6 geothermal power plant which added 86MW to the grid in July 2022.

“The commissioning of Olkaria I AU 6 geothermal power plant pushed up our geothermal generation by 24 percent. This contributed to an overall increase in electricity unit sales from 7,918GWh in 2022 to 8,027GWh,” said Eng. Njenga.

However, KenGen reported an increase in operating costs which the CEO attributed to rising insurance and impairment costs. This was however matched by growth in revenue resulting in a pre-tax profit of Ksh.8.5 billion, which was a substantial improvement from Ksh.6.2 billion reported in the previous year.

“We are confident that our Good-to-Great Transformation Strategy is on course and will continue to deliver growth over the next decade to ensure a reliable supply of clean and affordable energy to the people of Kenya,” said Eng. Njenga, adding that the company contributed over 66% of Kenya’s electricity consumption in the year.

The NSE-listed company CEO said KenGen had helped cushion Kenyans from the effects of climate change which has seen rainfall levels drop in the country over the past few years.

He said: “Notably, our investments in geothermal energy ensured uninterrupted electricity supply, even in the face of challenges posed by a prolonged drought and reduced hydropower generation.”

Looking ahead, KenGen will be banking on the growth in demand for electricity in Kenya which continues to soar at about 5% annually. In line with the demand and the Least Cost Power Development Plan (LCPDP), the company has announced ambitious plans to augment generation capacity by more than 154MW over the next two years through the rehabilitation and uprating of its existing power plants.

“One of the projects we are looking to deliver soon include the Gogo Hydropower Redevelopment Project in Migori County which was approved by cabinet recently and is set to elevate the dam's electricity capacity from its current 2MW to 8.6MW,” said Eng. Njenga.

KenGen boasts a diverse energy portfolio, including geothermal, hydro, wind, and thermal adding up to 1,904MW of which 86% is drawn from renewable sources.

. . . . . . . . . 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 1,904MW, of which over 86% is drawn from green sources namely: Hydro (826MW), Geothermal (799MW), Wind (25.5MW). The balance is from Thermal.

For media queries please contact:  

Frank D. Ochieng, Tel:0721816896

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.

Davis Chirchir - Cabinet Secretary, Energy and Petroleum

 New A. Serem"twitter@_DavisChirchir


Mr. Davis Chirchir is the Cabinet Secretary in charge of Energy and Petroleum in Kenya. He provides policy, oversight and leadership in the corporate institutional framework of the Ministry. The institutions under this framework include:

  • Kenya Pipeline Company (KPC)
  • National Oil Corporation of Kenya (NOCK)
  • Kenya Petroleum Oil Refineries (KPRL)
  • Energy and Petroleum Regulatory Authority (EPRA)
  • Kenya Electricity Generating Company PLC(KenGen)
  • The Kenya Power and Lighting Company PLC (KPLC)
  • Rural Electrification and Renewable Energy Corporation (REREC)
  • Kenya Electricity Transmission Company (KETRACO)
  • Geothermal Development Company (GDC)
  • Energy Tribunal
  • Nuclear Power and Energy Agency (NuPEA)
  • Independent Power Producers (IPPs).

He has in-depth experience in project development, management and execution and is skilled in strategic analysis and financial management

Mr. Chirchir previously led the Ministry in the same capacity from 2013 to 2015. This is therefore his second appointment as the Cabinet Secretary for Energy and Petroleum; a testament to his in-depth understanding of the sector and the impact he had. Prior to his nomination and appointment as the Cabinet Secretary, he was the Chief of Staff to the Deputy President.

He was also a Commissioner at the Interim Independent Electoral Commission (IIEC) where he spearheaded the introduction and application of information technology and reform initiatives in voter registration and election results management.

This was preceded by his role as General Manager at Kenya Posts and Telecommunications Corporation (KPTC) where he coordinated the restructuring of KPTC to create Telkom Kenya, Communication Commission of Kenya, Postal Corporation of Kenya and staff Pension Fund. He also coordinated the privatization of Telkom Kenya and establishment of Safaricom. He was a member of the Technology Committee at Nairobi Stock Exchange and supported the computerization of the Central Depository and Trading System.

Mr. Chirchir holds a Masters of Business Administration in International Management from Royal Holloway School of Management, University of London. He also holds a postgraduate diploma in Tele-traffic Engineering and a Bachelor of Science degree in Computer Science and Physics from the University of Nairobi.

Kamau Alex Wachira - Principal Secretary


Alex Kamau Wachira - Principal Secretary

The Principal Secretary joins the State Department for Energy with a wealth of experience from the private sector where he worked variously as an investment banker. His latest assignment was with Faida Investment Bank where he traded and structured Treasury bonds and Corporate bonds at the Nairobi Stock Exchange (NSE). Other assignments include working with Dyer & Blair Investment Bank and Genghis Capital limited in the same capacity.

PS Wachira has served in various leadership’s positions right from his university days. He was a founding member of the Bonds Market Association as well as a member of the Steering Committee of the Kenya Association of Stock Brokers and Investment Bankers (KASIB). His contribution to the Bond’s market saw him being appointed to the Central Depository Project at the Central Bank of Kenya (CBK). In 2021, the project dealt in government securities worth 900 billion, the highest turnover ever in Kenya.

The PS launched his career in the financial sector after participating in the issuance of the Safaricom IPO in 2008 where he interned. He had prior completed a Bsc Degree course from the University of Nairobi. At Campus, he served as the Secretary General NUNSA and Treasurer for the Confederation of Medical Students Association. He is currently pursuing an MA in Leadership at Pan African Christian University.

A strong believer in servant leadership through community engagement and development, in that position, the PS was able to spearhead initiatives such, as free medical camps for Cancer Screening, Tree planting, Youth Mentorship Programmes, and Sports Tournaments among others. Born and bred in Kieni Constituency, Nyeri County, the PS is a family man who’s strict up bringing is instrumental in shaping him into the person he is.

ftNews Highlights

ft Featured Video


Group 585
Group 586
Group 587
Group 581

ftOur Contacts

Head Office

  • KenGen Pension Plaza II
    Kolobot Road, Parklands
  • P. O. BOX 47936, 00100, Nairobi
  • TEL:
  • +254 711 036-000
  • +254 732 116-000
  • +254 020 366-6000
  • Email: pr@kengen.co.ke

© 2024 KenGen