KenGen half-year profits dip to Sh4.6b as revenues shrink

KenGen has been selling geothermal steam to flower farms neighbouring its geothermal fields in Olkaria that use it to heat up green houses as well as leasing its expertise and equipment in geothermal well drilling to competitor firms eyeing geothermal electricity production.PHOTO:COURTESY

Poor performance by KenGen’s non-traditional revenue streams has resulted in a 17 per cent drop in the company’s profits for the half-year to December last year.

The power-generating firm has in the recent past diversified into sale of geothermal steam and leasing of its drilling equipment to companies seeking entry into geothermal energy production.