Today, KenGen held its 68th AGM and the second virtual AGM in the history of the company. Over 26,000 shareholders registered to attend the virtual event.
KenGen will continue implementing its Good 2 Great strategy to ensure sustainable power growth in the country, while leveraging on innovations and partnerships for continued business sustainability.
Here are highlights from Kenya Electricity Generating Company PLC (KenGen’s) verified twitter account.
"During the period under review, we continued to actualize business continuity measures inculcating safety & prudence in operations & incorporating technological innovations to ensure seamless power generation," MD & CEO Rebecca Miano. #KenGenAGM2020 #SustainableKenGen pic.twitter.com/HBwtsdRY8O
— KenGenKenya (@KenGenKenya) April 22, 2021
As an organization that generates an essential commodity, our strategic management, resilience & commitment has continued to strengthen our financial position while enhancing our social, environmental & economic sustainability. #KenGenAGM2020 #SustainableKenGen pic.twitter.com/5SBpHFRurL
— KenGenKenya (@KenGenKenya) April 22, 2021
“KenGen is pleased to have delivered positive results amidst a challenging business environment,” Chairman, General (Rtd) Samson Mwathethe. https://t.co/9FyDjIGdGa #KenGenAGM2020 #SustainableKenGen pic.twitter.com/RcDct5Ntkn
— KenGenKenya (@KenGenKenya) April 22, 2021
KenGen registered a 13% growth in electricity revenue, mainly attributable to the full operationalization of our 165.4 MW Olkaria V geothermal power plant in November 2019, which boosted geothermal production by 14%.#KenGenAGM2020 #SustainableKenGen pic.twitter.com/H6PCxavBOa
— KenGenKenya (@KenGenKenya) April 22, 2021
Reimbursable expenses comprising of mainly fuel & water charges declined by 57.9% from Kshs. 10.2 billion reported for the previous year to Kshs. 4.3 billion,owing to reduced dispatch from thermal power plants,reflecting the impact of the 165.4MW Olkaria V geothermal power plant.
— KenGenKenya (@KenGenKenya) April 22, 2021
Attributable to the 13.4% increase in electricity revenue following completion of Olkaria V as well as the additional revenue from the Company’s Ethiopia drilling contract.#KenGenAGM2020 #SustainableKenGen pic.twitter.com/mataXyp52o
— KenGenKenya (@KenGenKenya) April 22, 2021
Other Kenyans on twitter joined KenGen in sharing the prosperity and growth seen and recorded indepth as per the recently released at the 68th annual general meeting.
The ongoing construction of Olkaria I Additional Unit 6 is expected to yield an additional 83.3MW having so far achieved more than 30% of the entire plant construction task as at June, 2020.The plant is expected to be commissioned later this year.#KenGenAGM2020 #SustainableKenGen pic.twitter.com/AYiJ2YUR1k
— Zeddy🇰🇪 (@ZeddyBariti) April 22, 2021
Earlier today, I had the pleasure of interacting with our esteemed shareholders albeit virtually for one of the most important events on our corporate calendar at @KenGenKenya. #KenGenAGM2020 #SustainableKenGen pic.twitter.com/Rxvdm66auU
— CS Rebecca Miano, MBS (@rebecca_miano) April 22, 2021
KenGen is pleased to have delivered positive results amidst a challenging business environment as portrait by KenGen Chairman, General (Rtd) Samson Mwathethe.
.@KenGenKenya has a revamped its horizon II G2G strategy towards revenue diversification and a sustainable company for the future #KenGenAGM2020 #SustainableKenGen pic.twitter.com/SZvvTwdq4h
— Geol. James Nyandigisi (@AleckyJames) April 22, 2021
https://twitter.com/DriveMarketer/status/1385152049470394368?s=20
#KenGenAGM2020 report provides a review of the material matters KenGen faces; @KenGenKenya's key operational, financial, economic, social and environmental aspects; its governance; its
engagements; as well as its risks and opportunities. This is KenGen's value creation story.— Cathy (@Edlycamwa) April 22, 2021
However, following COVID-19
disruption, the National Treasury projects a growth of no more than 1.5%. #SustainableKenGen pic.twitter.com/LzBDyGrqYh— Cathy (@Edlycamwa) April 22, 2021
Backed by a wealth of cutting edge expertise, @KenGenKenya has distinguished itself as Africa’s geothermal power producer and propelled Kenya into the league of Top 10 geothermal producers globally #KenGenAGM2020 #SustainableKenGen #EnergyChampion pic.twitter.com/7ruJEN8VSE
— Omindo John (@omindojo) April 22, 2021
Apart from leveraging on its specialization in Energy generation, KenGen is keen to continue implementing its revamped corporate strategy, that remains critical in powering other sectors of the economy such as health, agriculture& Industrialization.
Did you know, geothermal generation will help the country achieve its commitment of reducing greenhouse gas emission by 30% by the year 2030, while providing the much-needed electric energy for the attainment of the vision 2030 goals?
“Our Corporate Governance framework continues to encompass KenGen’s strategic and operational objectives with a focus to accelerate growth and increase stakeholder value,” KenGen posted.
In the period ended june 2020, KenGen reported a total assets growth by 3% from Shs 401,422 million to Shs 412,927 million. This is mainly attributed to investments in Olkaria, rehabilitation of Kamburu power plant and drilling of additional wells.
Renewable energy is marked as the foundation for global economic growth during & post the pandemic. KenGenKenya has over the past year contributed nationally and regionally towards development of green projects to spur green African economies.
In 2020, KenGen_Foundatn made a contribution of Kshs. 20 Million to the National COVID-19 Fund to assist in the country’s efforts in the fight against the corona virus pandemic.
The economy is expected to rebound strongly in 2021, given the country’s vibrant private sector, stronger agricultural output on account of favourable weather patterns, and the recent CBK’s targeted policy response measures.
KenGen is committed to attaining excellence in its operations for generations to generations. The plan is to continue aligning its projects to the Government’s Big 4 agenda, the country’s Vision 2030, industrialization goals & medium-term development plans.
In line with our diversification agenda, KenGen is using its in-house expertise and experience to enable other African countries to exploit their geothermal resource, thereby creating more value for our stakeholders.
Follow more highlights on #KenGenAGM2020 and #SustainableKenGen
