NAIROBI, Kenya, Oct 30 – Kenya Electricity Generating Company (KenGen) has posted a 54 percent rise in net profit to Sh10.48 billion for the financial year ending June 30, 2025, up from Sh6.8 billion a year earlier, driven by lower operating costs and expanded revenue streams.
The power producer attributed the improved earnings to enhanced operational efficiency, diversification of income sources, and reduced overheads.
Revenue from non-traditional ventures surged by 235 percent, supported by KenGen’s diversification into consultancy services, including the successful completion of geothermal drilling work in Eswatini.
Operating expenses dropped by 11 percent to Sh35.14 billion, aided by lower depreciation and continued cost-efficiency measures. Net foreign exchange and fair value gains hit Sh1.45 billion, a turnaround from a loss of Sh722 million last year, reflecting the shilling’s stabilization.
Finance costs also fell by 20 percent to Sh2.25 billion, attributed to loan repayments and a reduced debt load.
“KenGen’s performance this year reflects the strength of our strategy, our people, and our commitment to sustainable energy,” said Managing Director and CEO Eng. Peter Njenga. “As we build on this momentum, we remain dedicated to powering Kenya’s future with clean, reliable, and affordable electricity.”
Looking ahead, KenGen said it remains focused on implementing its G2G 2034 Strategy, which targets accelerated renewable energy growth and revenue diversification. Its 253MW project pipeline includes the 63MW Olkaria I project, the 42.5MW Seven Forks Solar Project, and the 8.6MW Gogo Hydro Power Plant upgrade.
The company is also expanding regionally, with the upcoming geothermal drilling project in Ngozi, Tanzania, marking a key milestone in its cross-border ambitions.
“As we move forward, KenGen’s leadership in renewable energy and our commitment to innovation and sustainability will remain at the core of everything we do,” Eng. Njenga added. “We are not just providing energy — we are shaping a greener, more sustainable future for Kenya and the region.”
