Kenya, 31 October 2025 - Kenya’s transition to green energy is on an impressive trajectory, marked by a strong financial performance from the Kenya Electricity Generating Company PLC (KenGen), which recorded a profit of Sh10.48 billion in the past year.
The NSE-listed power generator reported a 54 percent rise in profit after tax, up from Sh6.80 billion in 2024, driven by enhanced operational efficiency, cost optimisation measures, and increased electricity generation from its diversified renewable energy portfolio. Profit before tax grew by 42 percent to Sh15.47 billion.
KenGen’s Managing Director and CEO, Eng. Peter Njenga said the company’s performance is a testament to its commitment to sustainable energy and operational excellence.
“As we build on this momentum, we remain dedicated to powering Kenya’s future with clean, reliable, and affordable electricity,” said Eng. Njenga.
According to data from KenGen, revenue from non-traditional sources grew by 235 percent, underscoring the company’s expanding diversification and consultancy business. This growth was supported by the successful completion of a geothermal project in Eswatini. Overall revenue for the year remained relatively stable at Sh56.10 billion, compared to Sh56.30 billion in the previous year.
Ken Gen, in a statement, noted that operating expenses declined by 11 percent to Sh35.14 billion, driven by lower depreciation charges and reduced overheads resulting from ongoing efficiency initiatives. Net foreign exchange and fair value gains totaled Sh1.45 billion, a sharp turnaround from a Sh722 million loss in the previous year, reflecting the stabilisation of the Kenyan shilling. Meanwhile, finance costs fell by 20 percent to Sh2.25 billion, supported by continued loan repayments and a reduced debt balance, according to a statement from KenGen.
KenGen’s total assets rose to Sh505.6 billion, from Sh491.3 billion the previous year, while shareholder equity climbed to Sh284.5 billion. The company ended the year with cash and cash equivalents of Sh30.1 billion, up from Sh25.6 billion in 2024.
Operationally, KenGen maintained a strong performance amid steady economic growth and heightened energy demand. Kenya’s national peak electricity demand reached a record 2,392MW in August 2025, a 5 percent increase from the prior year. KenGen’s installed capacity of 1,786 MW, including geothermal, hydro, wind, and thermal generation, produced 8,482GWh of electricity, up 1percent from 2024.
The company has pledged its focus on delivering its G2G 2034 Strategy, which aims to accelerate renewable energy development and diversify revenue streams. Its current project pipeline of 253MW includes the 63MW Olkaria project, the 42.5MW Seven Forks Solar Project, and the 8.6MW Gogo Hydro Power Plant upgrade. KenGen is also advancing its regional expansion, with the upcoming geothermal drilling project in Ngozi, Tanzania, marking a significant milestone in its cross-border ambitions.
“As we move forward, KenGen's leadership in renewable energy and our ongoing commitment to innovation and sustainability will remain at the core of everything we do. We are not just providing energy; we are helping to shape a greener, more sustainable future for Kenya and the region,” added Eng Njenga.
