KenGen selects its shareholders to tour installations
04 November 2015, 13:56
Nairobi - Kenya Electricity Generating Company (KenGen) has selected 300 shareholders to take part in this year’s tour of its installations.
The tour, to be held on November 18, is an opportunity for shareholders to understand the mechanisms of their investments in the company.
KenGen MD & CEO, Eng Albert Mugo said the tour is aimed at enhancing the shareholders’ understanding of the company’s business strategy as well as achievements and challenges.
In a speech read on his behalf by Finance & ICT Director, John Mudany during a raffle to pick the tour participants, he said the shareholders will have a chance to tour the 280MW Project which comprises the 140MW Olkaria IV and the 140MW Olkaria I Additional Units 4 and 5.
“The 280MW has been cited as one of the single largest geothermal power projects in the world. The project has not only had an impact on KenGen’s financial performance, pushing the company’s profit after tax to KES 11.5 billion, but has also brought down the cost of power by between 25% and 30%. This has also placed Kenya in the map as the 8th largest geothermal producer in the world,” the statement says.
The 280 MW Geothermal project has won KenGen the coveted Africa Utility of the Year award, outstanding clean Energy Project of the Year and the Excellence in Power generation award at the Eastern Africa Power Industry awards.
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