KenGen Signs Deal for Steel Plant at Olkaria Green Energy Park

Kenya Electricity Generating Company (KenGen) has signed a new investment agreement with Synergetic Development Group to set up a steel logistics and fabrication facility at its Green Energy Park in Olkaria, Naivasha.

The agreement was sealed during the WRC Safari Rally 2026 at KenGen’s geothermal stage in Olkaria, where company officials said the move marks another step in attracting industries that rely on clean and reliable power.

The planned project will see Synergetic Development Group establish an integrated logistics hub for steel products, together with a steel fabrication plant inside the park.

The facility will operate using 18 megawatts of geothermal power supplied directly from Olkaria’s geothermal fields. The investor will also use about 10 acres of land within the park and roughly 360 cubic metres of water annually for its operations.

KenGen Managing Director and Chief Executive Officer Peter Njenga said the latest investment shows that more companies are beginning to see the value of using geothermal energy for industrial production.

“The onboarding of Synergetic Development Group as our fourth investor at the KenGen Green Energy Park is a testament to the growing confidence that industry players have in our green energy offering. KenGen is committed to providing reliable, competitively priced geothermal energy that powers not only homes but also industries, creating jobs and driving sustainable economic development in Kenya,” Njenga said.

He added that the partnership reflects a wider shift towards clean industrial development, noting that renewable power can help African economies grow their manufacturing sectors while keeping emissions low.

According to Njenga, the Olkaria Green Energy Park was created to attract companies that need constant and affordable electricity, especially manufacturers whose operations require large amounts of energy.

Chief Executive Officer of Synergetic Development Group, Stephen Kiarie, said the company intends to move quickly with the project and tap into the region’s growing demand for steel products used in construction and infrastructure development.

“With our expertise in project delivery in Kenya and across 14 countries in the region, we will hit the ground running to deliver this project on time and on budget,” Kiarie said.

With the entry of Synergetic Development Group, the number of investors operating at the Olkaria Green Energy Park has now risen to four. KenGen is positioning the facility as a centre for industries that want direct access to geothermal energy instead of relying on conventional power sources.

The park sits within the Olkaria Special Economic Zone in Naivasha and is part of the government’s broader plan to attract manufacturing investments that can support Kenya’s industrial growth under Vision 2030.

KenGen officials say the park provides investors with land, water and reliable green energy within the same location, making it easier for manufacturers to set up operations while reducing production costs and carbon emissions.