Last Updated 12 years ago by Kenya Engineer
The country’s largest power generator, KenGen, has plans to have its currently installed capacity of 1,252MW power raised to 2,092MW by the year 2016.
The firm plans to raise Sh15 billion through a rights issue after the shareholders in December approved the rights issue that would increase the number of KenGen’s ordinary shares by 2.2 billion.
Part of the proceeds from the rights issue will be used to increase the firm’s power capacity input into the grid which currently stands at 70 per cent, by 840MW. The money raised via the rights issue is part of a Sh430 billion expansion plan to see KenGen through to 2018.Under that plan, the power producer seeks to raise its generation capacity to 3,200MW.
The 840MW power is in line with the Government’s plan to increase installed capacity by 5,000MW over the next 40 months.
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