KenGen Lifts Dividend as Shareholders Approve Ambitious Growth Path
KenGen’s Managing Director & CEO Eng. Peter Njenga addressing shareholders accompanied by KenGen Chairman Hon. Alfred Agoi (left) and Energy PS Alex Wachira at KenGen 73rd AGM held in Nairobi on Thursday December 4,2025.
Kenya Electricity Generating Company PLC (KenGen) has increased its dividend after posting strong earnings and accelerating its regional growth strategy, with management highlighting the company’s strengthened operational efficiency and expanding renewable footprint.
Speaking during the 73rd Annual General Meeting in Nairobi on Thursday, Managing Director and CEO Eng. Peter Njenga said the company’s financial performance reflects disciplined execution of its long-term strategy.
“Our financial performance reflects our positioning as a regional renewable energy leader,” he said. “We have strengthened efficiency, widened our geothermal consultancy footprint and accelerated delivery of new generation capacity both locally and across the region.”
Shareholders subsequently approved a first and final dividend of Ksh.0.90 per share, up from Ksh.0.65 last year. The higher payout followed a 54% jump in profit after tax to Ksh.10.48 billion, driven by reduced operating costs, improved foreign exchange gains and expanded consultancy revenues across the region.
Also speaking, Board Chairman Hon. Alfred Agoi said the stronger dividend reflects confidence in KenGen’s financial health and long-term direction.
“This dividend uplift is not only a reflection of strong financial results but a reaffirmation of KenGen’s commitment to delivering value to shareholders,” he noted. “We are optimizing efficiency, diversifying revenue sources and unlocking new growth opportunities in the region.”
Kenya’s electricity demand reached record highs in November, underscoring rising industrial activity. With an installed capacity of 1,786MW, KenGen supplied about 60% of national electricity, generating 8,482GWh over the financial year. Diversified income rose 235%, supported by geothermal consultancy contracts in markets including Eswatini, while operating costs fell 11%, further strengthening margins.
KenGen is pushing ahead with its G2G 2034 Strategy, which targets 1,500MW of new renewable energy and 500MWh of energy storage. The company is exploring participation in the proposed 700MWh High Grand Falls hydropower project, while scaling battery storage and pumped hydro options. Its regional geothermal consultancy work continues to expand across Ethiopia, Djibouti, Eswatini, Ngozi and Bhutan.
Njenga said upcoming projects, including the 63MW Olkaria I Rehabilitation, 42.5MW Seven Forks Solar, and the 8.6MW Gogo Power Plant expansion will play a vital role in stabilizing the grid and advancing Kenya’s clean energy transition.
“Our investment priorities will continue to deliver sustainable energy, create value for shareholders and support Kenya’s industrial transformation,” he said.
