KenGen Powers Ahead: Higher Dividend, Bold Expansion Mark a Transformative Year

-
By Irene Mwende 




KenGen’s 73rd Annual General Meeting in Nairobi set an upbeat tone for the future of Kenya’s energy landscape as shareholders approved a higher dividend and applauded the company’s strong financial and operational momentum.

Held on Thursday, December 4, the meeting highlighted a milestone year for Kenya’s largest power producer. Shareholders endorsed a first and final dividend of Ksh.0.90 per share, up from Ksh.0.65, after the company posted a remarkable 54% growth in profit after tax, reaching Ksh.10.48 billion. This performance was fueled by tightened cost controls, rising diversified income and a stronger foreign exchange position—signals of a company firmly on the rise.
Chairman Hon. Alfred Agoi said the increased payout reflects confidence in KenGen’s financial fundamentals and its long-term strategy. “This dividend uplift is not only a reflection of strong financial results but a reaffirmation of KenGen’s commitment to delivering value to shareholders,” he noted, emphasizing the company’s mission to drive efficiency, diversify revenue streams and unlock new regional growth.

Kenya’s broader economy also provided a strong backdrop, with 2024–25 marked by resilient agricultural and industrial performance—and record-breaking electricity demand. As peak demand climbed to 2,418.77MW, KenGen remained the bedrock of the national grid, supplying roughly 60% of the country’s electricity from its 1,786MW installed capacity.

The company’s financial performance was equally robust. Revenue held firm at Ksh.56.1 billion, while income from diversified activities surged 235%, boosted by geothermal consultancy contracts in Eswatini and expanded regional operations. Operating costs fell 11%, and foreign exchange gains swung to Ksh.1.45 billion, reversing a significant loss last year.

Managing Director and CEO Eng. Peter Njenga affirmed that the results reflect disciplined execution of KenGen’s long-term vision. “We have strengthened efficiency, widened our geothermal consultancy footprint and accelerated delivery of new generation capacity both locally and regionally,” he said.

At the center of KenGen’s ambitious future is its G2G 2034 Strategy, targeting 1,500MW of new renewable power and 500MWh of energy storage. The company is exploring high-impact opportunities including participation in the 700MWh High Grand Falls hydropower project, expanding battery and pumped storage solutions, and scaling geothermal operations through a partnership with Toshiba ESS.

Meanwhile, KenGen’s Geothermal Training Centre continues to shape Africa and Asia’s next generation of geothermal experts—cementing Kenya’s global leadership in clean energy.

Looking ahead to 2026, KenGen is advancing a 252MW project pipeline, featuring the 63MW Olkaria I Rehabilitation, the 42.5MW Seven Forks Solar project, and expansion of the 8.6MW Gogo Power plant in Migori County. These initiatives promise to strengthen Kenya’s grid reliability, stimulate industrial growth and accelerate the nation’s transition to fully renewable power.

“Our investment priorities will continue to deliver sustainable energy, create value for shareholders and support Kenya’s industrial transformation,” Eng. Njenga concluded, setting KenGen on a powerful trajectory into the future.

Popular posts from this blog

Tragedy in Kilepoi: Community Demands Justice and End to Cycle of Violence in Samburu"

-
Image
By irene  A Cry for Peace: The Aftermath of the Kilepoi Attack The latest assault, a brutal act of retaliatory aggression, had once again thrust the community into mourning. Homes were torched, livestock stolen, and innocent lives lost. The pattern was tragically familiar—a cycle of bloodshed fueled by old wounds and deep-seated divisions. Despite the presence of multiple security installations, including the Anti-Stock Theft Unit (ASTU), GSU camps, and military posts, help arrived too late. The attackers vanished into the rugged terrain, leaving destruction in their wake. In the days that followed, anger simmered as locals questioned why their government had failed them once again. Among the voices calling for justice was  Chairperson Turkana professionals Association SG Ernest Nadome  said they  are tired of burying their loved ones "We have security forces, yet we are left to defend ourselves. What is their purpose if not to protect us?" He said  ...
Read more

Delano Kiilu: Championing Workplace Safety and Advocacy as PROSAK’s Secretary General

-
Image
By irene  In the bustling world of occupational safety, one name stands out in Kenya: Delano Kiilu, the Secretary General of the Protective and Safety Association of Kenya (PROSAK). With a vision to create safer workplaces and empower safety professionals, Kiilu has become a beacon of change and advocacy in the industry. Delano Kiilu’s journey began as a passionate advocate for employee rights and well-being. Recognizing the alarming gaps in workplace safety across industries, he joined PROSAK, an organization dedicated to promoting occupational health and safety. Rising through the ranks with his tireless dedication, he assumed the position of Secretary General, where he continues to lead transformative initiatives. Under his leadership, PROSAK has spearheaded awareness campaigns, hosted training programs, and collaborated with government and private stakeholders to enhance safety standards. Kiilu is also a strong proponent of empowering safety officers with knowledge ...
Read more

Mwenda Thuranira’s Myspace Foundation Rallies Support for Isiolo Flood Victims, Calls for Urgent Government Action

-
Image
By irene  In the aftermath of the devastating floods that have ravaged Isiolo County, leaving behind a trail of destruction and despair.  Mwenda Thuranira’s Myspace Foundation has stepped up in solidarity with affected communities. The floods, which have displaced families, destroyed homes, and disrupted lives, also claimed the vehicle of MCA Lemantile in a tragic incident that underscores the severity of the disaster. As local residents grapple with loss and uncertainty, Myspace Foundation, under the leadership of Mwenda Thuranira, has expressed deep concern over the County Government’s inadequate disaster preparedness and response. The foundation has highlighted the critical gaps—lack of early warning systems, insufficient emergency shelters, and poor drainage infrastructure—as key contributors to the escalating impact of such natural calamities. “Myspace Foundation stands with the people of Isiolo in this trying time,” said Mwenda Thuranira.  “We are not on...
Read more