After a power-packed year, Kenya Electricity Generating Company PLC (KenGen) is set to give more energy to its investors with a dividend increase.
Shareholders, during the 73rd Annual General Meeting in Nairobi, agreed on a first and final dividend of Ksh.0.90 per ordinary share, which represents a hike from Ksh.0.65 of the previous year.
The better dividend comes on the back of a half-year line with the profit-after-tax (PAT) figure rising by 54% to Ksh. 10.48 billion on the heels of a reduced cost base, widened revenue streams, and improved forex gains.
Chairman Hon. Alfred Agoi, hence, observed that the performance “reaffirms investor confidence in the company’s long-term strategy.” KenGen, as he put it, is not just improving “efficiency but also diversifying and leveraging new regional opportunities to generate sustainable returns for shareholders and support Kenya’s clean energy transition.”
The new energy era consumed more power in Kenya in 2024–25, and thus the national hourly load reached new heights as it recorded 2,418.77MW in November. About 60% of the power supplied to the country was from KenGen, which yielded 8,482GWh from its 1,786MW installed capacity.
Overall revenue held steady at Ksh.56.1 billion, whereas the income from diversified activities, mainly geothermal consultancy—ballooned by 235% on the back of Eswatini and other regional contracts. The 11% drop in the operating costs to Ksh.35.1 billion is a manifestation of the company’s deepening operational controls. KenGen has also recorded Ksh.1.45 billion in net foreign exchange and fair value gains, turning the tables on the previous year’s losses.
Eng. Peter Njenga, the MD and CEO at KenGen, said the results are a testament to the company’s ongoing commitment to become a regional leader in renewable energy.
Following its G2G 2034 Strategy, the company is set to inject 1,500MW of new renewable generation capacity and 500MWh of energy storage into the grid. KenGen could be contributing to the proposed 700MWh High Grand Falls hydropower project, or KenGen might be looking at batteries or pumped hydro for storage.
On the regional front, service Ethiopia, Djibouti, Eswatini, Ngozi and Bhutan are benefiting from the expanded geothermal consultancy services which the company is promoting in partnership with Toshiba ESS.
The Geothermal Training Centre is building global expertise by training professionals from both Africa and Asia. KenGen has 252MW project pipeline going into 2026, such as 63MW Olkaria I Rehabilitation, 42.5MW Seven Forks Solar project, and 8.6MW Gogo Power Plant Evanding in Migori County.
These projects are expected to bring Grid reliability to the forefront, make Industrial growth stronger and speed up Kenya’s transition to complete renewable energy.
