Browsing: Kenya Electricity Generating Company (KENGEN)

• Public-Private Partnerships  have allowed  drilling and geothermal energy production capacity to rise.
• Combined with hydro, these two sources contribute 65.62 percent of the total, while wind and solar account for 18.69 percent.
• While Kenya Power has tried to revise energy prices in the country, analysts observe that expanding geothermal investments will provide the country with cheaper power for future expansion.

• KenGen has completed drilling the deepest geothermal well in Ethiopia reaching a depth of 3,000 meters
• This marks the second of eight geothermal wells KenGen has been contracted to drill for the state-owned electricity producer, Ethiopia Electric Power Company 
• In February 2019, KenGen won a contract to offer geothermal drilling services for EEP in the Aluto-Langano geothermal fields in Ethiopia

• KenGen has reported a 7% rise in its full-year Profit Before Tax to Ksh14.76 billion
• The firm recommended a dividend pay-out of Ksh 0.30 per share, amounting to Ksh.1.98 billion 
• The profit growth was achieved on the back of continued revenue growth underpinned by the company’s diversification strategy

Kenya Electricity Generating Company PLC (KenGen) has released its full-year Financial Results for the financial year ended 30^th June 2021 reporting a 7% Profit Before Tax increase from Ksh13.79 billion to Ksh14.76 billion.

The NSE-listed firm has also recommended a dividend pay-out of Ksh 0.30 per share which amounts to Ksh.1.98 billion to be paid to all its shareholders.

Announcing the results, KenGen Managing Director and CEO, Rebecca Miano said the profit growth was achieved on the back of continued revenue growth underpinned by the company’s diversification strategy.

“In spite of the challenging times, KenGen remained strong recording a steady performance …

Kenya Electricity Generating Company PLC (KenGen) has received carbon credits from its Olkaria I, Units 4 and 5 Geothermal Power plant at a time when it is working to solidify its lead in climate action in Africa.

According to the power producer, the milestone follows the issuance of an additional 2,040,515 Carbon Emission Reductions (CERs) for the Naivasha based project by the United Nations Framework Convention on Climate Change (UNFCCC).

This brings the amount of carbon credits issued to KenGen to date to 2,591,496 tonnes of Carbon Dioxide Equivalent (CO2e) valued at USD.3,887,244 which are now available for sale.

The sale process of the carbon credits has been initiated as guided by the applicable disposal laws and regulations for the public sector organizations.

The 140MW Olkaria I Additional Units 4 and 5 power plant, will reduce CO2 emission through the displacement of electricity generated by fossil fuel fired power plants …

Kenya Electricity Generating Company PLC (KenGen) says it has surpassed a crucial stage in the ongoing USD 6.2 million geothermal drilling contracts in Ethiopia.

According to the firm’s Managing Director and CEO Rebecca Miano, a team of KenGen engineers have so far crossed the 450 meters of drilling depth of the first of eight geothermal wells for the state-owned electricity producer, Ethiopia Electric Power Company which commenced in May this year.

“The first 450 meters is the most difficult phase of the entire geothermal well drilling process which can go upto a depth of 3,000 meters,” Miano said.

“This particular one is being done under peculiar circumstances including unforeseen delays occasioned by the COVID-19 pandemic,” she added.

The CEO added that they will be drilling at a rate of about 50 meters per day going forward and therefore expect to complete the remaining part on schedule in about two months.…

Kenya, East Africa’s largest and most advanced economy is currently the leading region exploring and installing geothermal energy capacity (standing at 676 MegaWatts, 2019) according to ESI Africa, hence Kenya is seeking to expand its geothermal mastery.

On a larger scale, the geothermal technology is rather at an initial phase in Africa, as developed nations take the lead, including high-installed capacities in the US with more than 3.8 gigawatts, according to Power Technology publication.

Kenya Electricity Generating company has taken its interest to another level, as it seeks to raise at least $1.95 billion to build new and upgrade existing plants “in a bid to almost double its output from the renewable fuel” according to information from Bloomberg News.

The Kenyan power company ambitions will make Kenya a competitive powerhouse, as the country has a total installed capacity of 2.4GW, the stated-owned company anticipated to sweep more than 651 megawatts …

Kenya’s leading power generator-Kenya Electricity Generating Company (KenGen) has clinched a US$56.2 million contract to drill 12 geothermal wells in Ethiopia.

The contract with Ethiopia’s independent power producer Tulu Moye Geothermal Operations (TMGO) PLC will also include installing a water supply system and equipment.

KenGen will supply drilling materials and also provide operation and maintenance services for both the drilling equipment and the water supply system.

Speaking on Thursday about the multi-million shillings project, KenGen Managing and CEO Rebecca Miano said it was the second and the company’s largest consultancy outside Kenya.

In February this year, KenGen won a contract to drill geothermal wells for the Ethiopian Electric Power (EEP) in Aluto, Ethiopia.

READ:KenGen and Chinese companies on Ethiopian geothermal project

The contract in Aluto is for the implementation of drilling rigs and accessories as well as rig operation and maintenance for drilling geothermal wells.

It is financed by …

In her quest to pursue more renewable energy, Kenya has injected an additional 79 megawatts of geothermal power to the national grid.

This follows the completion of Unit 1 of Olkaria V Geothermal Power Plant by the Kenya Electricity Generating Company (KenGen) PLC.

The Unit was first synchronized to the grid on the June 28 and thereafter subjected to commissioning tests. It was then taken through a series of load tests until it attained its full design output of 82.7MW.

Commenting on the milestone, KenGen Managing Director & CEO, Mrs. Rebecca Miano, said the additional capacity would play a significant role in supporting Kenya’s power needs while enhancing the amount of green energy in the national grid.

“We are delighted to announce the completion of the first unit of Olkaria V Geothermal Power Plant and subsequently injecting 79 MW to the national grid. This brings to 612MW the total amount …