The demand for electricity in Kenya continues to grow at an average rate of 4.5% year-on-year driven by high business activity as the country recovers from the effects of the global COVID-19 pandemic.
At the same time, Kenya has scaled-up use of renewable sources further boosting the country’s standing in the fight against climate change.
Speaking during the 69th Annual General Meeting (AGM) of Kenya Electricity Generating Company – KenGen which was held virtually, Board Chairman, General (Rtd.) Samson Mwathethe said Kenya’s peak demand of electricity had grown to a historic high of 2,036MW in November this year adding that more than 92% of the electricity consumption was from renewables.
“We are glad to note that in the past two years under review, despite experiencing the challenging operating environment owing to restrictions brought about by the COVID-19 pandemic, we recorded progress as a country,” he said adding, “KenGen is committed to creating more value to our shareholders, our focus is now on accelerating the deployment of additional capacity to boost Kenya’s renewable and clean energy reserves.”
The Chairman added, “Our capacity addition program is well aligned to the Government’s Big 4 Agenda and the country’s Kenya Vision 2030’s industrialization goals and medium-term development plans. This is critical in ensuring that we support the Government’s plan towards provision of universal access to electricity to all in Kenya.”
General (Rtd.) Mwathethe said that the company was preparing to add another 83MW to the national grid in the first quarter of 2022 once the Olkaria I, Unit 6 geothermal power plant is commissioned.
He said the company was pleased to have delivered positive results amidst the challenging times.
Speaking during the AGM, Managing Director and CEO, Rebecca Miano said, “KenGen will continue implementing its Corporate Strategy to ensure sustainable electricity supply in the country, while leveraging on innovation and partnerships for business growth and diversification.”
During the AGM, shareholders approved a recommendation by the KenGen Board to pay about 200,000 shareholders a total of Ksh.1.98 billion in dividends for the year ended June 30, 2021.
