KenGen announced that it spent KSh15.5 billion on power plants and equipment in the year to June 30, 2026 and approved a dividend of KSh0.75 per share at its AGM on Thursday, October 29, 2026.

Capital spending rose 14.3 per cent while borrowings fell by KSh12.2 billion to KSh97.1 billion; the dividend payout totals about KSh4.946 billion across 6,594,522,339 shares, giving a forward yield of 6.0 per cent at a share price of KSh12.55, and is payable on or about January 21, 2027 to shareholders on the register at close of business on October 29.

Revenue increased 6.4 per cent to KSh59.7 billion from KSh56.1 billion and operating profit rose 4.1 per cent to KSh14.2 billion, but profit after tax slipped 1.2 per cent to KSh10.35 billion, within 1.2 per cent of the previous year’s KSh10.48 billion.

Finance income fell 30.4 per cent to KSh2.86 billion and finance costs fell 12.1 per cent to KSh1.98 billion; profit before tax declined 2.7 per cent to KSh15.1 billion, earnings per share were KSh1.57 and cash and equivalents ended the year at KSh26.7 billion, down from KSh30.1 billion.

The company supplied 8,975 gigawatt hours to the national grid, meeting 57.2 per cent of national electricity demand of 15,692.81 GWh, and more than 90 per cent of the electricity dispatched came from renewable sources.

KenGen’s installed capacity stands at 1,786 MW, comprising 826 MW hydro, 754 MW geothermal, 25.5 MW wind and the balance thermal, and the peak demand recorded was 2,549 MW, the highest in five years and 8.55 per cent above the previous year.

The reserve margin narrowed to 3.34 per cent in June and Kenya Power plans to raise imports from Ethiopia to 400 MW at peak from December.

Rehabilitation of the Olkaria I geothermal station, offline since 2023, has increased its rating from 45 MW to 63 MW with turbines supplied by Toshiba ESS; the work is complete and the station awaits commissioning by year-end, which will raise total installed capacity to 1,848 MW.

KenGen also outlined a 42.5 MW Seven Forks solar project, redevelopment of the Gogo hydropower station, battery storage and a proposal to raise Masinga Dam, all under its G2G 2034 Strategy that targets 5,540 MW of capacity across geothermal, hydro, wind, solar and nuclear.

The Green Energy Park in the Olkaria special economic zone, gazetted on June 5, 2026 and covering about 8,292 acres, has attracted five investors in data centres, green fertiliser, electric mobility, steel fabrication, logistics and manufacturing, and KenGen aims to draw manufacturers and other businesses to the park.

Shareholders approved revised Articles of Association, allowing Class A shareholders to directly elect two representative directors for the first time since the Government Owned Enterprises Act 2025; the board will elect a substantive chairman, and Eng. Frank Konuche, who presided at the AGM, said “the board is balancing dividends, investment and financial strength.”

The Government of Kenya held 69.99 per cent of KenGen’s shares at June 30, 2025, implying about KSh3.46 billion of the dividend for the Treasury.

Managing Director and CEO Eng. Peter Njenga said the company was investing in existing power plants while developing new generation capacity to meet rising demand and noted that peak demand stands at 2,549 MW.

Ronoh Kibet Charles, General Manager for Commercial Services, will succeed Njenga as Managing Director and CEO on February 1, 2027.