Kenya Electricity Generating Company PLC, KenGen

Kenya Electricity Generating Company PLC (KenGen) is the leading electric power producer in Kenya, generating approximately 60% of the country’s electricity . Established in 1954 as Kenya Power Company (KPC), it was initially tasked with constructing transmission lines between Nairobi and Tororo in Uganda. In 1998, following energy sector reforms, the company was rebranded as KenGen and separated from Kenya Power and Lighting Company (KPLC)

Energy Generation Portfolio

KenGen’s diversified energy mix includes hydroelectric, geothermal, thermal, and wind power sources:

• Hydropower: Operates 30 plants with a combined capacity of 825.69 MW.

• Geothermal: Seven plants totaling 713.13 MW, primarily located in the Olkaria region .

• Thermal: Four plants generating 256 MW.

• Wind: Ngong Hills Wind Farm produces 26 MW .

The company is also developing a 42.5 MW floating solar power station at Kamburu Dam, expected to be operational by 2027 .

Geothermal Leadership

Kenya ranks sixth globally in geothermal energy production, with KenGen operating significant facilities in the Olkaria area. The Olkaria I Geothermal Power Station, commissioned in 1981, has expanded over the years to a capacity of 268.3 MW . Other notable plants include Olkaria IV (140 MW), Olkaria V (158 MW), and the upcoming Olkaria VII, projected at 80.3 MW

Financial Performance

In the fiscal year ending June 30, 2023, KenGen reported a 48% increase in profit after tax, reaching KSh 5.02 billion, up from KSh 3.4 billion the previous year. This growth was attributed to enhanced operational efficiency, particularly in geothermal operations .

Ownership and Governance

KenGen is a publicly listed company on the Nairobi Securities Exchange under the ticker symbol KEGN. The Government of Kenya holds a 70% stake, with the remaining 30% owned by private investors .

Sustainability Initiatives

Aligning with Kenya’s goal to transition fully to renewable energy by 2030, KenGen is investing in green technologies, including geothermal and solar power. The company is also exploring the development of electric vehicle charging infrastructure to support the adoption of e-mobility solutions .