Companies KenGen’s Ethiopia earnings grow four times to Sh1.7bnManaging Director(MD) and Chief Executive Officer(CEO) of Kenya Electricity Generating Company (KenGen), Ms Rebecca Miano on March 18, 2021. The firm’s diversification venture that includes drilling in Tulu Moye in Ethiopia contributed revenues that surpassed the expenses of setting up. Ethiopia operations increased the costs of staff, plant operations and maintenance as well as drilling. “The plant operation and maintenance expenses increased from Sh1.5 billion to Sh1.8 billion because of expenses related to drilling in Ethiopia,” the firm said. It has been diversifying revenue streams away from producing electricity and selling to Kenya Power, supplying drilling services to Ethiopia and Djibouti.

Source: Ethiopian News December 19, 2021 21:16 UTC