KenGen’s latest 83MW geothermal energy plant, Olkaria I Unit 6 (supply: KenGen)
Kenya’s KenGen has posted a 35% improve in revenue for the previous 12 months on the power of their geothermal and hydropower technology output.
Authorities-owned energy technology firm Kenya Electrical energy Producing Firm (KenGen) has introduced a year-to-year revenue improve of 35%, from Sh 5 billion to six.8 billion (approx. USD 38.8 million to 52.7 million) for the interval that resulted in June 2024. The corporate attributed this progress in revenue to the efficiency of its geothermal and hydropower vegetation.
KenGen dispatched a complete of 8384 GWh of electrical energy for the previous 12 months, additionally up from 8027 GWh for a similar interval in 2022-2023. This was a notable feat contemplating the inconsistent climate situations in Kenya prior to now 12 months. Peter Njenga, KenGen’s Managing Director and CEO, said that KenGen’s energy vegetation have been crucial in assembly the 2149 MW of peak electrical energy demand in Kenya for the interval underneath overview.
“This spectacular progress not solely strengthens our monetary place but additionally indicators better returns for shareholders now and lengthy into the long run, whereas enhancing our potential to spend money on crucial renewable vitality initiatives offering extra reasonably priced, dependable electrical energy for our customers,” additional said Njenga.
A continued push for inexperienced energy
KenGen has performed a significant function in making Kenya a pacesetter in renewable vitality within the African area. Kenya produces round 90% of its energy from renewable sources and is aiming for 100% by 2030. In help of this purpose, KenGen continues to construct capability in renewables within the type of solar energy services, hydropower stations, and geothermal energy vegetation.
Work is at the moment ongoing for the rehabilitation of the Olkaria I geothermal energy plant to extend its put in capability from 45 MWe to 63 MWe.. Regulatory filings executed earlier this 12 months additionally indicated KenGen’s plans of constructing the 80.3-MW Olkaria VII energy plant. Furthermore, KenGen is eyeing a diversification of revenues from its geothermal enterprise by placing up a Inexperienced Power Park in Olkaria which can provide industrial and industrial services with geothermal warmth or energy.
Supply: ESI Africa and The Star Kenya
