The Kenya Electricity Generating Company (KenGen) full year profit after tax to June this year has risen by 54pc to reach Ksh 10.5 billion compared Ksh.6.8 billion.
According to the power generator, earnings were lifted by stronger operational efficiency, cost optimization, and increased generation from its diversified energy portfolio.
During the year, KenGen reported a 42pc growth in profit before tax which grew to Ksh 15.5pc.
“KenGen’s performance this year reflects the strength of our strategy, our people, and our commitment to sustainable energy. As we build on this momentum, we remain dedicated to powering Kenya’s future with clean, reliable, and affordable electricity,” said Peter Njenga, KenGen Chief Executive Officer.
The firm says revenue from non-traditional sources grew by 235pc, reflecting the company’s expanding diversification and consultancy business, including the successful completion of geothermal work in Eswatini.
Revenue for the year remained stable at Ksh 56.1 billion, compared to the previous year’s Ksh.56.3 billion as operating expenses declined by 11pc to Ksh 35.14 billion on account of lower depreciation charges and reduced overheads resulting from ongoing efficiency initiatives.
Net foreign exchange and fair value gains amounted to Ksh 1.45 billion, compared to a loss of Ksh 722 million in the previous year, reflecting the stabilization of the Kenya Shilling.
During the year, continued loan repayments and a reduced debt balance resulted into finance costs dropping by 20pc to Ksh.2.25 billion.
Total assets rose to Ksh 505.6 billion, from Ksh 491.3 billion reported last year, while shareholder equity climbed to Ksh.284.5 billion. The company ended the year with cash and cash equivalents of Ksh 30.1 billion, up from Ksh 25.6 billion in 2024.
KenGen’s installed capacity of 1,786 MW including geothermal, hydro, wind, and thermal generation, produced 8,482GWh of electricity, up 1% from 2024.
Going forward, KenGen targets to accelerate its renewable energy development and diversify revenue streams.
Looking ahead, the company said it remains focused on delivering its G2G 2034 Strategy, which aims to accelerate renewable energy development and diversify revenue streams.
“As we move forward, KenGen’s leadership in renewable energy and our ongoing commitment to innovation and sustainability will remain at the core of everything we do. We are not just providing energy; we are helping to shape a greener, more sustainable future for Kenya and the region,” added Njenga.
Its current project pipeline of 253MW includes the 63MW Olkaria I project, the 42.5MW Seven Forks Solar Project, and the 8.6MW Gogo Hydro Power Plant upgrade. KenGen is also advancing its regional expansion, with the upcoming geothermal drilling project in Ngozi, Tanzania, marking a significant milestone in its cross-border ambitions.
