Skip to main content

KenGen's Increase of Finances and more Green Projects

 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.

Comments

Post a Comment

Popular posts from this blog

Geothermal-Powered Greenhouses: Qingyun County's Leap Toward Sustainable, Year-Round Agriculture in Shandong

Harnessing Geothermal Energy to Power Modern Agriculture: How Qingyun County Is Redefining Sustainable Food Production in Shandong By:  Robert Bulum a As winter tightens its grip across northern China, most agricultural regions brace for declining productivity, rising energy costs, and increased environmental pressure. Yet in Qingyun County, located in China’s eastern Shandong Province, a different story is unfolding,one where geothermal energy is quietly transforming agriculture into a resilient, low-carbon, high-yield enterprise. At the heart of this transformation lies the Shandong Shuifa Aerospace Modern Agriculture Industrial Park, where geothermal energy has become a critical enabler of year-round food production, economic efficiency, and environmental sustainability. A Warm Oasis in the Depth of Winter Shortly after the Minor Snow solar term, temperatures outside the greenhouses in Qingyun County drop sharply. Inside the intelligent greenhouse complex, however, conditions re...
Post a Comment
Read more

Hyundai Builds World’s Largest Single-Unit Geothermal Power Plant

Hyundai E&C Breaks Record: Building the World’s Largest Single-Unit Geothermal Power Plant in Indonesia By:  Robert Buluma In a remarkable feat of engineering, Hyundai Engineering & Construction ( Hyundai E&C) has just completed the Sarulla Geothermal Power Plant (Sarulla GPP) in North Sumatra, Indonesia now officially recognized as the world’s largest single-unit geothermal power plant with a capacity of 330 MW. This milestone not only showcases Korean engineering excellence on the global stage but also marks a significant step forward for clean, reliable renewable energy in Southeast Asia. A Giant Leap for Geothermal Energy Located in the Sarulla region of North Sumatra, the plant consists of three units that together deliver 330 megawatts of clean electricity enough to power approximately 2.1 million Indonesian households. What makes Sarulla truly special is its single-unit design. While many geothermal projects around the world are built in smaller, modular phases...
Post a Comment
Read more

Fervo Energy To Partner With Turboden In 400 MW Utah Geothermal Project

Unleashing the Power of Earth:  Turboden and  Fervo Energy Partner to Revolutionize Geothermal Energy By: Robert Buluma In the heart of the rugged landscapes of southwest Utah, a groundbreaking collaboration is underway to harness the Earth's natural heat and propel the world towards a greener, more sustainable future. Turboden , a trailblazer in Organic Rankine Cycle (ORC) systems, has joined forces with Fervo Energy , a pioneer in enhanced geothermal systems (EGS), to embark on an ambitious journey towards redefining geothermal energy production. The Cape Station project stands as a testament to this alliance, marking Fervo Energy largest commercial endeavor in the geothermal energy sector to date. Positioned to become a beacon of innovation, Cape Station aims to revolutionize the way we harness energy from beneath the Earth's surface, with an anticipated total project capacity of approximately 400 MW. This endeavor not only symbolizes a transformative leap towards carbon-...
Post a Comment
Read more

Zanskar’s Big Blind: First Blind Geothermal Discovery in 30 Years

Big Blind: The Geothermal Discovery That Changes Everything By: Robert Buluma Utah startup  Zanskar Geothermal quietly dropped one of the most important announcements in American energy in decades. They discovered and confirmed “Big Blind” ,the first completely blind, commercial-grade geothermal system found in the United States in over thirty years. Let that sink in. No hot springs.   No fumaroles.   No steaming ground.   No prior wells.   Zero surface expression whatsoever. Just desert, sagebrush, and – 7,000 feet below,  a reservoir hot enough and permeable enough to support gigawatt-scale power production. This isn’t incremental progress. This is a paradigm breaker. Why “Blind” Discoveries Matter So Much For the last 40 years, geothermal development in the U.S. has been geographically handcuffed. You could only build plants where nature advertised the resource on the surface – think Yellowstone, The Geysers, or Imperial Valley. Ever...
Post a Comment
Read more

Amsterdam Strikes Geothermal Gold: Hot, Thick, Permeable Reservoir Confirmed

Breakthrough Beneath the Beach: Amsterdam Region Hits Geothermal Paydirt at Strandeiland By: Robert Buluma The Netherlands just took a giant leap toward fossil-free heating. On the artificial island of Strandeiland (part of Amsterdam’s fast-growing IJburg district), the SCAN exploration well has officially confirmed what the geothermal community has been hoping for: a thick, hot, and , most importantly permeable reservoir in the Slochteren Formation. Key numbers that matter:   Reservoir thickness: 152 meters   Bottom-hole temperature: 66 °C   Permeability: confirmed via successful production and injection tests   That’s not screaming-hot by Icelandic standards, but for direct-use district heating in one of Europe’s densest urban areas, 66 °C is more than enough to supply thousands of homes with clean, baseload heat – forever. Why This Well Changes Everything for the Netherlands The Dutch government launched the SCAN program (Seismic Campaign Nethe...
Post a Comment
Read more

Geothermal Projects In Africa, Countries Overview

 Geothermal Projects in Africa: Country-wise Overview By : Robert Buluma Africa is increasingly turning to geothermal energy as a sustainable solution to meet its growing electricity demands. With abundant geothermal resources spread across the continent, several countries have embarked on ambitious projects to harness this clean and renewable energy source. Let's delve into the geothermal projects in various African countries, highlighting key players and prospects. Algeria Algeria is exploring its geothermal potential, particularly in the northern regions. Although in the early stages, initiatives are underway to assess feasibility and potential locations for geothermal power plants.  Burundi Burundi has shown interest in developing its geothermal resources, primarily in the northwest region near Lake Tanganyika. The government is actively seeking partnerships with international firms to kickstart exploration and development efforts. Comoros The Comoros Islands are situated ...
Post a Comment
Read more

$170M Geothermal De-Risking Breakthrough: Philippines Unlocks Underground Potential

$170 Million to Unlock the Heat Beneath: How the Philippines Is De-Risking Geothermal Exploration By: Robert Buluma Geothermal energy has always been one of the Philippines’ greatest untapped strategic advantages an indigenous, low-carbon baseload resource sitting quietly beneath the archipelago’s volcanic spine. Yet for decades, the country’s geothermal expansion has moved cautiously, constrained not by lack of resource potential, but by risk, particularly at the exploration and drilling stage. That may now be changing. In a landmark move, the Department of Energy (DOE) and the Land Bank of the Philippines (LandBank) have unveiled a $170 million Philippine Geothermal Resource De-Risking Facility (PGRDF),a financial mechanism designed to absorb the most uncertain and capital-intensive phase of geothermal development: early-stage drilling. Backed by a sovereign loan from the Asian Development Bank (ADB) , the facility signals a bold shift in how governments can catalyze geothermal gro...
Post a Comment
Read more

"Revolutionizing the Future of Sustainable Transport: PUNCH Group Secures €40m in Funding to Optimize Hydrogen Engine Technology"

  image source:(unsplash.com-Precious Madubuike) The PUNCH Group, a Belgian-based leader in the design of propulsion and control systems for hybrid and electric vehicles, has been bestowed a generous €40m grant from the European Investment Bank (EIB) to further advance its cutting-edge hydrogen engine technology and hasten the transition to zero-emission transport. This substantial investment will empower the company to enhance the capabilities of its hydrogen engine, enabling it to conduct research, development, and innovation activities at its headquarters in Turin, Italy and Strasbourg, France. Guido Dumarey, the founder, owner, and CEO of the PUNCH Group, remarked on the significance of this funding, stating, "The EIB's support will be a crucial element in realizing our vision of sustainable mobility for all. We aim to expand our technological expertise in the field of electric and hydrogen propulsion, and we believe in the immense potential of hydrogen engines, particular...
Post a Comment
Read more

American Critical Resources and Plum Acquisition Corp. IV Sign LOI for SPAC Merger to Advance U.S. Geothermal Lithium Project

Revolutionizing Energy: The Synergy of Geothermal Power and Lithium Extraction at Hell's Kitchen Posted by  Robert Buluma  on December 20, 2025 In an era where the world is racing toward sustainable energy solutions, the intersection of geothermal power and lithium production is emerging as a game-changer. As electric vehicles (EVs), renewable energy storage, and advanced technologies demand ever-increasing supplies of critical minerals, innovative projects are stepping up to meet the challenge. One such groundbreaking initiative is the Hell's Kitchen project by American Critical Resources (ACR), a subsidiary of Controlled Thermal Resources Holdings Inc. (CTR) . This California-based endeavor not only harnesses the Earth's natural heat for clean electricity but also extracts lithium a vital component in batteries ,directly from geothermal brines. With a recent announcement of a proposed business combination with Plum Acquisition Corp. IV (Nasdaq: PLMK), a special purpose ac...
Post a Comment
Read more

A Quiet Revolution Underground: Prenzlau’s Geothermal Leap Toward a Fully Renewable Heat Future

Prenzlau’s Geothermal Breakthrough: A Decisive Step Toward a Fully Renewable Heat Future By: Robert Buluma The city of Prenzlau, located in northeastern Germany, has reached a major milestone in its transition toward sustainable energy. In December 2025, Stadtwerke Prenzlau announced a decisive breakthrough in its geothermal project after successfully encountering geothermal water at a depth of 983 meters. This discovery represents a critical step forward for the city’s ambition to fully decarbonize its heat supply and positions Prenzlau as a leading example of how medium-sized towns can harness geothermal energy for district heating. The geothermal water discovered during drilling operations is estimated to be around 200 million years old and is contained within a saline sandstone formation deep underground. With a temperature of approximately 44°C and a planned production rate of 130 cubic meters per hour, the resource offers a reliable and continuous source of renewable heat. A test...
Post a Comment
Read more