NAIROBI, Kenya, Oct 29 – KenGen spent Sh15.5 billion on power infrastructure in the year to June 2026, up 14.3 percent from the previous year, as the electricity generator increased investment in its power plants.
The company’s profit after tax fell 1.2 percent to Sh10.35 billion, despite a rise in revenue, according to its latest financial results released at its annual general meeting on Thursday.
Revenue increased by 6.4 percent to Sh59.7 billion, while operating profit rose 4.1 percent to Sh14.2 billion. KenGen attributed the drop in net profit mainly to lower interest income after using cash to fund investments.
The company supplied 8,975 gigawatt hours of electricity to the national grid during the year, meeting 57.2 percent of national demand. More than 90 percent of its electricity came from renewable sources.
KenGen also reduced its borrowings by Sh12.2 billion to Sh97.1 billion.
Managing Director and Chief Executive Peter Njenga said the company was investing in its existing power plants while developing new generation capacity to meet rising demand.
Kenya’s peak electricity demand stands at 2,549 megawatts, he said.
Shareholders approved a dividend of Sh0.75 per share, down from Sh0.90 paid for the previous financial year. The payment is expected around January 21, 2027, to shareholders on the register as of October 29, 2026.
KenGen’s projects include the rehabilitation of Olkaria I geothermal power station, which has been completed, a proposed 42.5-megawatt solar plant at Seven Forks and plans to redevelop Gogo hydropower station. The company is also considering battery storage and raising Masinga Dam.
The company is also seeking to attract manufacturers and other businesses to its Green Energy Park in Olkaria, Naivasha. The park is intended to provide businesses with access to geothermal electricity, steam and industrial land.KenGen said the park had secured special economic zone status, allowing it to pursue industrial investment.
The company is also expanding its technical services, including geothermal drilling, resource assessment, engineering and power plant maintenance.
The investment programme comes ahead of a leadership change. Ronoh Kibet Charles, KenGen’s general manager for commercial services, is scheduled to take over as managing director and chief executive on February 1, 2027, replacing Njenga.
