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KenGen profit more than doubles to Sh18bn
Thursday January 28 2021
By OTIATO GUGUYU
Summary
The power producer reported a 133pc jump in net profit to Sh18.38 billion on the increased output of cheaper geothermal.
Electricity demand peaked at 1,966MW on December 11 surpassing levels seen before the pandemic of 1,926MW.
The board declared a dividend of Sh0.30 per share up from Sh0.25 in 2019.
Power producer Kenya Electricity Generating Company (KenGen) #ticker:KEGN has posted a 133 per cent jump in net profit to Sh18.38 billion for the full year ending June 2020 on the increased output of cheaper geothermal and tax savings.
The company completed its Olkaria V geothermal plant in the year under review, which helped it cut reliance on thermal generators saving on costs while boosting its electricity sales by 11.3 per cent to Sh39.8 billion.
Geoscientific Monitoring of Olkaria’s Geothermal Motor
In situ geophysical measurements from Kenya’s Olkaria geothermal field, integrated with remote sensing and meteorological data, shed light on subsurface energy transport to and from the surface.
The Olkaria 4 power plant, shown here, is one of six power plants in Kenya’s Olkaria geothermal field, the most developed geothermal energy resource in eastern Africa. Credit: KenGen 28 January 2021
Geothermal energy is one of several renewable, reliable sources that can drive transitions from fossil fuels. Compared with other renewable energy sources like solar and wind, geothermal is more constant in time and does not depend on season, time of day, or weather conditions. The most substantial geothermal resources are usually found near active tectonic plate boundaries or volcanic regions [
Sacking of KenGen manager for car misuse fair, says court
Thursday January 21 2021
By JOSEPH WANGUI
Summary
The Employment and Labour Court has upheld a decision by the Kenya Electricity Generating Company (KenGen) to fire one of its managers for misuse of a company car.
Justice James Rika acted fairly in terminating the contract of its former administration manager Frederick Oduor as provided in Sections 41 and 45 of the Employment Act.
The Employment and Labour Court has upheld a decision by the Kenya Electricity Generating Company (KenGen) to fire one of its managers for misuse of a company car.
Justice James Rika acted fairly in terminating the contract of its former administration manager Frederick Oduor as provided in Sections 41 and 45 of the Employment Act.