By Eddah Waithaka
Kenya’s largest electricity producer is rewriting its rulebook and turbocharging its expansion plans, with shareholders approving sweeping governance reforms designed to power the country through the next decade of growth.
Kenya Electricity Generating Company PLC (KenGen) Managing Director and CEO Eng. Peter Njenga announced the landmark changes at a press conference in Nairobi on Thursday, following an extraordinary general meeting that drew 790,000 participants from 25 countries.
“These resolutions strengthen our governance framework and reinforce the institutional stability required to manage long-term capital-intensive energy investments,” Njenga said.
The reforms align with Kenya’s new Government-owned Enterprises Act 2025 and introduce structured minority shareholder representation, stronger board independence, and clearer accountability mechanisms.
“The all-inclusive governance structure gives management the clarity, confidence, and accountability needed to execute and deliver the jobs under our ongoing G2G 2034 strategy,” he added.
Kenya’s power needs hit record highs
Njenga revealed that system peak demand has surged to 2,444.4 MWh, recorded on 14 January 2026, while the highest gross energy demand reached 45,323.22 MWh on 5 December 2025.
To meet this growing appetite for power, KenGen is accelerating delivery of an ambitious capacity expansion roadmap.
1,500 MW from ongoing G2G2034 strategy projects, 2,000 MW from nuclear sources, 700 MW from hydro and forest assets.
“Kenya’s strategic focus remains clear and unchanged,” Njenga said. “We will continue to deliver reliable and affordable power to the nation, uphold the highest standards of operational excellence, and sustain strong financial performance.”
Governance overhaul, ownership unchanged
Board Chairman Honorable Alfred Agoi clarified that the Government of Kenya retains its position as the main shareholder. “What has changed is the strength of our governance architecture,” Agoi said.
“Including clearer board structures, firm-independent requirements, and structured minority shareholder representation.”
The reforms ensure all shareholder categories now have representation at board level, a move Agoi said strengthens inclusivity, enhances transparency, and reinforces universal confidence in the company’s governance framework.
Efficiency drive across generation portfolio
Njenga outlined a company-wide optimisation programme spanning geothermal, hydro, wind, and other renewable sources.
“Across our portfolio, we are improving plant performance, reducing operational risks, and driving cost efficiencies,” he said.
“These actions are essential to supporting national energy security and maintaining a stable electricity supply as demand continues to grow.”
On Safaricom’s share innovation
Asked about Safaricom’s recent product enabling broader share access, Njenga welcomed the development.
“I think that is a good innovation coming from Safaricom,” he said. “As Kenyans, we are also looking at innovations that can help us improve value for the shareholder and perhaps have people access the shares much more.”
The CEO reaffirmed KenGen’s commitment to disciplined execution, environmental stewardship, and long-term value creation.
“Kenyans can remain confident in our commitment to powering the country’s growth, with responsibility and efficiency,” Njenga said.
