News and Events

Nairobi, Kenya, Thursday, August 22, 2024: Kenyans can rest assured that the benefits of affordable and reliable Hydroelectric Power (HEP) will continue, even as the heavy rains that recently swept across the country begin to subside.

Kenya Electricity Generating Company PLC (KenGen) says its proactive water management program particularly at the Seven Forks dams in Embu and Machakos counties is ensuring uninterrupted power supply from these critical installations.

KenGen’s water management strategy has allowed the company to maintain optimal dam levels, ensuring that hydroelectric power generation continues uninterrupted throughout the year, regardless of weather conditions. This initiative is part of KenGen’s commitment to securing a stable and cost-effective energy supply for the nation.

"As KenGen, we have taken significant steps to manage our water resources efficiently. This means that even in the dry seasons, we can continue to produce clean and affordable hydroelectric power, which remains a vital component of the national grid," said KenGen Managing Director and CEO, Eng. Peter Njenga.

As of this morning, Masinga Dam, the largest in the cascade, recorded a water level of 1,056.35 meters against a maximum level of 1,056.50 meters above sea level, while Kiambere Dam, the last in the cascade, recorded

698.68 meters against a maximum of 700 meters. All five dams in the Seven Forks system are currently operating at optimal levels, injecting clean energy into the national grid.

Eng. Njenga expressed confidence in the company's ability to continue providing reliable energy. "Our water management program is a testament to our commitment to delivering clean and affordable electricity to Kenyans. Despite the change in weather patterns, we have positioned ourselves to ensure that hydropower remains a stable source of energy for Kenyans throughout the year," he said.

At the same time, the NSE-listed energy generator’s CEO, also highlighted the environmental benefits of hydropower in the context of climate action. "HEP is not only a cost-effective source of electricity, but it also plays a crucial role in reducing carbon emissions. By relying on renewable energy sources like hydro, geothermal, wind, and solar, we are contributing significantly to Kenya’s climate goals and the global fight against climate change."

KenGen said that all five dams in the Seven Forks system are currently operating at optimal levels, contributing clean and renewable energy to the national grid. Despite the full dams, KenGen's effective water management has prevented any overflows, safeguarding downstream communities from potential flooding.

"The health of our dams is crucial not only for power generation but also for the safety and well-being of the people living along the Tana River," added Eng. Njenga. "Even during the peak rainy seasons, we were able to control the flow of water downstream, minimizing the effects of flooding and reducing the potential damage to property and loss of life. This is a clear indication of our commitment not only to energy production but also to the safety and well-being of the communities around us."

KenGen remains committed to harnessing Kenya’s natural resources for the benefit of the nation, ensuring

that energy remains affordable, reliable, and sustainable for all.

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Note to Editor:

About KenGen

Kenya Electricity Generating Company PLC - KenGen is the leading electricity generation company in the Eastern Africa region with an installed generation capacity market share of more than 60%.

The company’s primary business is to provide safe, reliable, and competitively priced electric energy for the country in an environmentally friendly and sustainable manner while creating value for its stakeholders.

Today, KenGen PLC has an installed generation capacity of 1,725MW, of which over 93% is drawn from green sources namely: Hydro (826MW), Geothermal (754MW), Wind (25.5MW). The balance is from Thermal.

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Nairobi, Kenya, Friday, August 16, 2024: Kenya Electricity Generating Company PLC (KenGen), Africa’s premier green energy generator, has been inducted into the Morgan Stanley Capital International (MSCI) Frontier Markets Small Cap Index. This significant development signals a potential surge in foreign direct investments for the NSE-listed firm, highlighting its strategic importance in the global energy sector.

This strategic capital investments milestone enhances KenGen's visibility and attractiveness to global investors, positioning it as a key player in the frontier markets landscape.

“This development is expected to enhance shareholder value by attracting more international investment, thereby increasing liquidity and potentially driving up share prices,” said Eng. Peter Njenga, KenGen’s Managing Director and CEO.

The MSCI Frontier Markets Small Cap Index serves as a crucial benchmark for institutional investors seeking to gain exposure to emerging economies with high growth potential. KenGen’s inclusion in this index underscores its robust financial performance, innovative energy solutions, and commitment to powering Kenya's future sustainably.

This inclusion reaffirms KenGen's commitment to delivering affordable and reliable energy solutions to the nation, fostering economic growth, and contributing to Kenya’s vision for a green energy future.

In statement responding to the news, the Nairobi Securities Exchange (NSE), said being part of the MSCI Frontier Markets Small Cap Index provides investors with a unique opportunity to invest in companies like KenGen which have strong growth prospects, solid governance, and a proven track record in the energy sector.

“The move will enable wider and deeper coverage of Kenya’s equity market increasing the visibility of companies listed on the NSE and enhance their attractiveness to global investors as the indices serve as benchmarks for institutional investors looking to gain exposure to frontier markets,” said Mr. Frank Mwiti, NSE Chief Executive Officer.

“This inclusion is a testament to KenGen’s consistent performance and strategic growth initiatives. We are thrilled to be recognized on such a prestigious global platform, which will undoubtedly attract more investment into our company and, by extension, make Kenya an attractive investment option,” said Eng. Peter Njenga.

The broader impact of KenGen’s inclusion in the MSCI Frontier Markets Small Cap Index extends beyond the company, contributing to the overall growth and stability of Kenya’s financial markets. This move is anticipated to inspire confidence among international investors, thereby fostering an environment conducive to further foreign investment and economic development.

Ends…/

Note to Editor:

About KenGen

Kenya Electricity Generating Company PLC - KenGen is the leading electricity generation company in the Eastern Africa region with an installed generation capacity market share of more than 60%. The company’s primary business is to provide safe, reliable, and competitively priced electric energy for the country in an environmentally friendly and sustainable manner while creating value for its stakeholders.

Today, KenGen PLC has an installed generation capacity of 1,725MW, of which over 86% is drawn from green sources namely: Hydro (826MW), Geothermal (753.8MW), Wind (25.5MW). The balance is from Thermal.

About MSCI

MSCI is a leading provider of critical decision support tools and services for the global investment community. The firm plays a critical role in enabling investors to understand and analyze key drivers of risk and return and confidently build more effective portfolios.