KenGen Profits Jump 133% To 18 Billion Shillings
By Juma / Published January 28, 2021 | 2:44 pm KEY POINTS
KenGen received a tax credit of 4.59 billion shillings from the Kenya Revenue Authority (KRA).
The Kenya Electricity Generating Company (KenGen) has registered a whopping 133 percent jump in profits to end the last financial year at 18.3 billion shillings in the just-released results attributed to increased output of cheaper geothermal and tax savings.
“KenGen recorded a 13.4 percent growth in electricity revenue mainly attributed to the full operationalization of our 165MW (megawatts) of Olkaria V geothermal power plant in November 2019 which boosted geothermal production by 14 percent,” managing director Rebecca Miano said.
New geothermal capacity contributes largely to increased annual profits for KenGen thinkgeoenergy.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thinkgeoenergy.com Daily Mail and Mail on Sunday newspapers.
KenGen focused on delivering 83 3 MW Olkaria I Unit 6 geothermal plant within next 12 months thinkgeoenergy.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thinkgeoenergy.com Daily Mail and Mail on Sunday newspapers.