KenGen looking to expand Drilling activities to other African Countries

Pursuant to its strategy that is seeking innovation to enhance efficiencies, increase productivity and roll out power generation projects worth Kshs. 1 Trillion over the next decade, KenGen is on the lookout for tenders to drill geothermal wells in eight African states. The targeted African states share Kenya’s favourable and geothermal rich Rift Valley geology. As part of SDG goal 7 that obligates States to increase access of citizens to affordable and clean energy by investing in a power mix of solar, wind and thermal power African states are now playing catch up in their efforts to exploit renewable and cheap geothermal energy. Among the African states that KenGen is targeting include Uganda, Tanzania, Zambia, Rwanda, South Sudan, Sudan, Djibouti and Comoros. As part of actualizing the deals, the firm has already hosted top officials from the target countries at its Naivasha Olkaria plants. Ugandan minister for Energy Irene Nafuna Muloni is expected to visit KenGen’s Olkaria plants for further talks. In June 2016, KenGen was successfully listed in the Nairobi Securities Exchange. According to the electricity generating firm it is seeking an avenue that will help it increase its profit revenues hence making it more attractive to both local and international investors. In 2019 KenGen was awarded a KSh 5.8 billion tender to drill eight wells in Ethiopia. KenGen is the largest power producing company in Kenya, producing about 69% of the electricity consumed in the country. It relies on various sources to generate electricity ranging from hydro, geothermal, thermal and wind. The company owns 30 hydro power plants with a combined capacity of 818MW, five thermal power plants of 256MW, six geothermal power plants of 698MW and one Wind power plant at Ngong of 26MW, resulting into a total installed capacity of 1,796MW.