The Kenya Electricity Generating Company PLC (KenGen) has reported solid financial results for the year ended June 30, 2025, underscoring its central role in powering Kenya’s economy while advancing the nation’s clean energy transition.
The NSE-listed power generator recorded a 54% rise in profit after tax to KES.10.48 billion, compared with KES.6.80 billion in 2024, buoyed by stronger operational efficiency, cost optimization, and increased generation from its diversified energy portfolio. Profit before tax rose 42% to KES.15.47 billion.
“KenGen’s performance this year reflects the strength of our strategy, our people, and our commitment to sustainable energy. As we build on this momentum, we remain dedicated to powering Kenya’s future with clean, reliable, and affordable electricity.” – Eng. Peter Njenga, KenGen’s Managing Director and CEO
Notably, revenue from non-traditional sources grew by 235%, reflecting the company’s expanding diversification and consultancy business, including the successful completion of geothermal work in Eswatini. Revenue for the year remained stable at KES.56.10 billion, compared to the previous year’s KES.56.30 billion.
Operating expenses declined by 11% to KES.35.14 billion, driven by lower depreciation charges and reduced overheads resulting from ongoing efficiency initiatives. Net foreign exchange and fair value gains amounted to KES.1.45 billion, compared to a loss of KES.722 million in the previous year, reflecting the stabilization of the Kenya Shilling. Meanwhile, finance costs fell by 20% to KES.2.25 billion, supported by continued loan repayments and a reduced debt balance.
KenGen’s total assets rose to KES.505.6 billion, from KES.491.3 billion the previous year, while shareholder equity climbed to KES.284.5 billion. The company ended the year with cash and cash equivalents of KES.30.1 billion, up from KES.25.6 billion in 2024.
KenGen Operations Remain Steady as Kenya Reaches Peak Electricity Demand
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% 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 1% from 2024.
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Kengen remains focused 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 I 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,” said Eng. Njenga.
