KenGen voted best energy firm

From left: KenGen CEO Albert Mugo, President Kenyatta and CS Ministry of Energy Davis Chirchir at Olkaria on October 17, 2014. PHOTO | JOYCE KIMANI 

In Summary

• KenGen’s market share currently stands at 79 per cent. The move to inject additional 280 megawatts in Olkaria to the national grid in December lifted Kenya’s global ranking as the eighth largest producer of geothermal energy.
• KenGen reaped huge benefits from the 280 megawatts deal. The firm’s half-year revenue rose by Sh3 billion to Sh12.8 billion. The company is currently injecting 1,575 megawatts to the national grid.

By LILIAN OCHIENG
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The Kenya Electricity Generating Company has been voted Africa’s best energy firm of the year. KenGen’s 280 megawatts Olkaria geothermal project has also been named this year’s clean energy project.

The utility industry awards celebrate the successes of Africa’s power and water sector during 2014/15. They highlight companies and executives responsible for pioneering new frontiers to achieve growth in challenging markets. The award gala was held in Cape Town, South Africa.

“The 280MW Olkaria geothermal project, the world’s largest such power plant of its kind was voted Africa’s clean energy project of the year 2014/15 while KenGen was voted as Africa’s power firm of the year. Congratulations,” said President Uhuru Kenyatta, who was among the first to notice the awards.

EIGHTH LARGEST PRODUCER

KenGen’s market share currently stands at 79 per cent. The move to inject additional 280 megawatts in Olkaria to the national grid in December lifted Kenya’s global ranking as the eighth largest producer of geothermal energy.

The country’s installed steam capacity stands at 585 megawatts representing 5 per cent of the total global geothermal production. This puts Kenya ahead of Japan, Russia, China and Germany according to a study presented to the World Bank by KenGen.

KenGen reaped huge benefits from the 280 megawatts deal. The firm’s half-year revenue rose by Sh3 billion to Sh12.8 billion. The company is currently injecting 1,575 megawatts to the national grid.

“Kenya has immense geothermal production potential,” said Albert Mugo, KenGen managing director.

“Geothermal power has contributed to lowering the cost of doing business by displacing thermal power and adds to Kenya’s green energy initiatives,” he said.

Studies by the ministry of Energy show that Kenya has the potential to produce about 10,000 megawatts of geothermal power from the Rift Valley basin.