KenGen Plc, the world’s 7th largest geothermal power producer, has convened and will hold an Extraordinary General Meeting(EGM) April 30th 2026.
Shareholders will be able to register and follow meeting, vote electronically, ask questions in advance before the EGM.
The meeting will elect 4 Independent Directors (Class B) and two Independent Directors (Class A)from among candidates duly nominated by minority shareholders in accordance with the Board Appointment & Retention Policy, the Fit & Proper Independence Assessment Criteria and any other applicable regulatory requirements.
KenGen shareholders will also approve the revised articles of association of the company, which have been updated in line with the Companies Act 2015, applicable laws and Best Corporate.
KenGen will hold a virtual shareholder briefing on 15th April 2026, to sensitize minority shareholders on the procedure and mechanism for the election of Class A Directors. Details of participation will be communicated separately.
At the Extraordinary General Meeting (EGM) held on 12th February 2026, shareholders approved amendments to the Company’s Articles of Association aimed at strengthening the governance framework of the Company, including changes to the structure and composition of the Board of Directors.
The amendments approved by shareholders provide for a revised governance structure and Board composition intended to further strengthen independence, accountability and long-term institutional oversight within the Company.
Following the adoption of the amended Articles and the subsequent review of the Board composition in line with the revised governance structure, the following Directors have relinquished their positions on the Board of KenGen as Independent Non-Executive Directors of the Company with effect from 5th March 2026.They are Alfred Agoi Masadia, Hon. Rehema Hassan and CPA. Bernard Ngugi.
Alfred Agoi Masadia, who served as Chairman of the KenGen Plc Board, provided steady and strategic leadership during a period of significant growth and transformation for the Company.
Under his stewardship, KenGen recorded its highest ever net profit of approximately KSh 10 billion, reflecting strong operational performance and financial discipline.
The Board expressed its appreciation to the outgoing Directors for their distinguished service and valuable contribution to the Company’s strategic direction, governance and operational success.
Collectively, the outgoing Directors have played an important role in strengthening KenGen’s governance framework, strategic direction and institutional resilience during a period of significant growth and transformation for the Company.
The Board thanked the outgoing Directors for their dedication, professionalism and lasting contribution to the Company and wishes them every success in their future endeavours.
KenGen remains firmly focused on operational excellence, financial sustainability and the delivery of long-term value to its shareholders. The Board and Management remain committed to ensuring continuity in leadership, governance oversight and execution of the Company’s strategic initiatives as KenGen continues to play a central role in advancing Kenya’s clean and reliable energy future.
KenGen Plc financial performance in 2025
According to KenGen financials metrics for 2025, the power generating company made a pre-tax profit of KSh 15,473 million from KSh 10,947 million in 2024, while operating profit increased to KSh 13,617 million from KSh 9, 551 million the previous year.
KenGen Total Revenue declined to KSh 56,098 million from KSh 56,297 million in 2024 while the balance sheet size grew to KSh 505,573 million from KSh 491,293 million in 2024. Cash and cash equivalents increased to KSh 30,124 million in 2025 from KSh 25,618 million in 2024.
Following the launch of our KenGen G2G 2034 Strategy, we have made great strides in delivery of our aspirations to increase our installed capacity by an additional 1,500 MW from renewable sources and 500 MWh of energy storage, secure sustainable financing for our project pipeline, grow future revenue as well as strengthen stakeholder engagement.
Over the years, KenGen has built world-class expertise in geothermal exploration and drilling, capabilities that have not only propelled Kenya to the forefront of renewable energy development but have also earned global recognition.
The firm has extended its geothermal exploration services beyond Kenyan borders to Eswatini, where it has conducted geothermal exploration studies. Gazettement of KenGen Green Energy Park in Olkaria as a Special Economic Zone (SEZ) was a great achievement in 2025.
KenGen spread across the country ensures regional balance in exploitation of national resources while providing grid balance. By optimizing its hydro resources, KenGen has ensured that its hydropower plants operate efficiently and consistently.
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