Kenya Electricity Generating Company PLC (KenGen) revenue increased by 11 per cent from Kes24.7 billion in the six months to December 2021 to Kes27.5 billion.
The growth was attributed to higher energy sales on increased geothermal production capacity at the recently commissioned 86 MW Olkaria I.
The production grew electricity unit sales from 4,006 GWh in 2021 to 4,200 GWh in the period ending December 2022.
KenGen Ag. Managing Director and CEO Abraham Serem said that the half-year results come on the heels of a prolonged drought that is one of the longest in recent history and has affected its hydro generation capacity due to the low water level.
“In previous years, we would be having serious scenarios of power rationing affecting the entire country at a time like now when the rains have failed,” he said.
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Further, Serem noted that the revenue growth highlights the company’s investment in renewable energy sources, particularly geothermal power.
“ We have been able to save the country from scenarios of power rationing as was the case in earlier years and we are confident that this growth will remain as we continue to work on stabilizing the national grid,” said Mr Serem.
The power generator is set to begin the redevelopment of the 40-year-old 45 MW Olkaria I geothermal power plant to boost its capacity to 63 MW.
It includes upgrading Olkaria I, Additional Units 4 and 5, and Olkaria IV from the current combined 300 MW to 340 MW.
