Kenya Electricity Generating Company PLC[2] abbreviated to KenGen, is a government enterprise in the Republic of Kenya charged with the production of electricity for the country. KenGen is the largest electric power producer in Kenya, generating over 60%[1] of the electricity consumed in the country.
Overview
KenGen relies on various sources to generate electricity, ranging from hydropower, geothermal, thermal and wind, with hydropower being the leading source of electricity.
Presently KenGen operates five major geothermal power plants with 12 installed units, namely: Olkaria I, Olkaria II, Olkaria I unit 4 and 5, Olkaria IV, Olkaria V. 16 wellhead plants with 21 installed units.[3]
The company was founded on 1 February 1954 as the Kenya Power Company (KPC) and was commissioned to construct the transmission line between Nairobi and Tororo in Uganda. This was to transmit power generated at the Owen Falls Dam to Kenya. KPC was also tasked to develop electricity generating facilities in the country.[4]
KPC was managed by the Kenya Power and Lighting Company under a management contract. In January 1997, the management of KPC was formally separated from Kenya Power as a direct result of reforms being undertaken in the energy sector and the entire economy.[4] Subsequently, on 19 January 1998 the company changed its name from Kenya Power Company to Kenya Electricity Generating Company. The trading name KenGen PLC was also adopted at this point.[5]
In 2006, KenGen was listed on the Nairobi Securities Exchange after the Government of Kenya sold 30 percent of its stake in the company through a successful initial public offering that received over 280,000 applications.[4]
Ownership
KenGen currently has 6,594,522,339 shares. The stock of Kenya Electricity Generating Company is listed on the NSE, where it trades under the symbol: KEGN[3]
Kenya Electricity Generating Company Stock Ownership