DIVERSIFICATION: Kenya Electricity Generating Company (KenGen) is banking on diversifying its business by selling geothermal steam and commercial drilling services in tandem with its core business of power generation.
The move is part of the firm’s strategy which includes a bullish attempt to explore opportunities and offer services beyond Kenya. Rebecca Miano (above), Managing Director and Chief Executive Officer said the firm is evaluating the possibility of setting up a subsidiary that will oversee our non-core activities that are proving to be critical revenue streams.
“The company will be 100 per cent owned by KenGen and will offer consultancy services, not just for players in geothermal but also other sectors, including oil and mining in Kenya and the region,” she said.
Miano also disclosed that the company is set to generate energy for industrial and domestic use to improve affordability and increase energy security by reducing reliance on oil-based sources.
“With 85 per cent of installed capacity being green, we have embarked on an ambitious investment programme in green energy to meet the country’s growing demand,” Miano said in a statement read on her behalf by the operations Director Samuel Kariuki in Mombasa. KenGen plans to establish a wind power farm in Meru and a solar plant in Embu.
The Ngong Wind Farm with a total generation capacity of 25.5MW makes it the only wind farm connected to the national grid in the country. The company’s ongoing green energy development projects include Olkaria I Unit 6, 70MW, Ngong Wind Phase III 10MW, Olkaria VI PPP 140MW, Olkaria I Rehabilitation 50MW, Olkaria I AU and IV topping plant 40MW, Modular wellheads 50MW, Meru Wind Farm 80MW. – FRED AMINGA