Kenya Electricity Generating Company PLC ( KenGen ) has reported a development in total revenue of 11 % to Ksh.27.5 billion for the six month stop December 31 , 2022 , from Ksh.24.7 billion in 2021 .
The development in revenue is attributed to higher muscularity sale due to increase geothermal production electrical capacity , with the recently commission 86MW Olkaria I Additional Unit 6 geothermal office works leading to development in electricity unit sales agreement from 4,006GWhs in 2021 to 4,200GWhs in the geological period ending December 2022 .
The half - year results amount against a prolonged drought which is one of the longest in late history , and KenGen says it has affect its hydro propagation electrical capacity due to the abject water level resulting from poor rains across sequent season .
" In late years , we would be having serious scenario of tycoon rationing involve the total country at a time like now when the rains have fail , " say KenGen Ag . Managing Director and CEO Abraham Serem .
Mr. Serem , however , expressed confidence and expiation with the performance of the company during the time period under review , suppose the company ’s fundamentals were strong enough to bear out business growth into the future . He noted that the growth in tax income was a will to the company ’s investment in renewable vigor source , especially in geothermal might .
" Thanks to our geothermal - led strategy and investments in geothermal development over the long time , we have been able-bodied to save the country from scenario of power rationing as was the case in earlier years , and we are confident that this emergence will remain as we continue to work on stabilizing the national power system , " said Mr. Serem .
The NSE - list company is on schedule to commence redevelopment of the forty - year - old 45MW Olkaria I geothermal power industrial plant to encourage its capacity to 63MW . This growth flight also includes upgrade Olkaria I Additional Units 4 & 5 and Olkaria IV from the current combined 300MW to 340MW .
" We remain focussed on our strategical first step , which admit diversification of our gross streams , innovation , and cost optimization . Today , our electrical energy is the most competitively priced , and this has continued to cushion Kenyans from rising mogul prices , " say Mr. Serem adding , " We are confident that we will proceed to deliver value to our shareholders and Kenyans going forward . "
For more information : KenGenwww.kengen.co.ke
Frontpage photo : © Pavel Rumlena | Dreamstime
