Africa-Press – Kenya. Kenya Electricity Generating Company shareholders will earn more this year after the power generator reported a 54 per cent increase in net earnings.
Shareholders endorsed a first and final dividend of Sh0.90 per ordinary share for the financial year, up from Sh0.65 last year, after gaining Sh10.48 billion in profits, driven by cost reductions, expanded revenue streams, and an improved foreign exchange position.
KenGen’s chairman, Alfred Agoi, said the payout reflects confidence in the company’s financial fundamentals and 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,’’ Agoi said.
He added that the firm is optimizing efficiency, diversifying revenue sources and unlocking new growth opportunities in the region.
“Our goal is to secure long-term returns while driving Kenya’s clean energy transition.”
During the financial year, Kenya’s broader economic environment remained resilient, with steady growth in agriculture and industry and rising electricity demand.
National power consumption reached record highs in November, as peak demand climbed to 2,418.77MW and energy dispatch hit 44,555.80MWH (megawatt-hours), underscoring increased industrial activity.
KenGen anchored the national grid, supplying roughly 60 per cent of the country’s electricity. It installed capacity stands at 1,786MW, which generated 8,482GWh over the past financial year.
The firm reported Sh56.1 billion in revenue while income from diversified activities surged 235 per cent, buoyed by geothermal consultancy contracts in Eswatini and expanded regional work.
Operating costs declined 11 per cent to Sh35.1 billion as the company tightened cost controls and improved operational efficiency.
It also recorded net foreign exchange and fair value gains of Sh1.45 billion, compared with a loss of Sh722 million the previous year, aided by a more favorable currency environment.
Finance costs fell following loan repayments, reinforcing KenGen’s shift toward a lower-debt balance sheet.
Peter Njenga, the Managing Director and CEO, said the results reflect continued execution of the company’s strategic priorities.
“Our financial performance reflects our positioning as a regional renewable energy leader. We have strengthened efficiency, widened our geothermal consultancy footprint, and accelerated delivery of new generation capacity both locally and across the region.”
The power generator is advancing its long-term G2G 2034 Strategy, which targets 1,500 megawatts of new renewable capacity and 500MWh of energy storage to support Kenya’s energy security and low-carbon industrialization goals.
The company is in discussions to participate in the proposed 700MWh High Grand Falls hydropower project and is exploring storage solutions, including battery energy storage systems and pumped hydro.
Regionally, KenGen is expanding its geothermal consultancy portfolio, with active or emerging projects in Ethiopia, Djibouti, Eswatini, Ngozi and Bhutan. A partnership with Toshiba ESS aims to scale geothermal operations and maintenance services in developing markets.
The company enters 2026 with a near-term project pipeline of 252MW, including the 63MW Olkaria I Rehabilitation, the 42.5MW Seven Forks Solar project, and the expansion of the 8.6MW Gogo Power plant in Migori county.
These developments are expected to strengthen grid reliability, support industrial expansion and accelerate Kenya’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,” Njenga said.
