Kenya Electricity Generating Company (KenGen) has been named the best sustainable power producer in East Africa in the London-based Capital Finance International Awards (CFI.co Awards).
The Nairobi bourse-listed KenGen earned the top spot among regional electricity producers for its “continued and deliberate focus on renewable energy – which now accounts for 84 per cent of the company’s power sources.”
“The CFI.co judging panel gives KenGen top marks for its good corporate citizenship and congratulates Kenya Electricity Generating Company on its 2018 award win for Best Sustainable Power Producer (East Africa),” said Lucinda Cherryson, the Awards Liaison Officer in the awards Judge’s report.
The Watford-based magazine noted that KenGen’s strategic investments had put the country on a sustainable renewable energy path through construction of a mix of hydro, wind and geothermal power plants.
“We are pleased to have been granted the East Africa’s Best sustainable power producer award by the Capital Finance International as it recognises the tremendous strides we have made as an organisation to enhance renewable energy sources for the country,” KenGen managing director Rebecca Miano said.
“It also recognises the deliberate efforts we have taken to implement our Good to Great strategy and also ensuring sustainability of the company from one generation to another,” she added.
KenGen, which is 70 per cent owned by the State, is the largest power producer in the country with a 69 per cent share of Kenya’s installed power capacity. The remaining share is held by independent power producers (IPPs).
KenGen, along with IPPs, produce and sell electricity in bulk to Kenya Power for onward distribution and retail to homes and businesses, acting as a middleman.
The company’s Award recognition was also cemented by the sustainability role played by KenGen Foundation, through execution of Corporate Social Responsibility (CSR) activities meant to empower communities surrounding its power projects.
It comes at a time when KenGen is putting finishing touches to its 165.4MW Olkaria V Geothermal Project in Naivasha, which is due for commissioning in July this year. The new plant will expand KenGen’s geothermal capacity to 699.4 MW from the current 534 MW.
Currently, KenGen’s energy generation mix totals 1,631 megawatts (MW), comprising 818MW of hydro energy; 534MW of geothermal energy; 253.5MW of thermal energy and 25.5MW of wind power.
The CFI.co runs a print journal, along with an online resource, providing analysis on business, economics and finance.