New: KenGen Green Energy Park Attracts Sixth Investor in Naivasha

Kenya Electricity Generating Company (KenGen) has welcomed a sixth investor to its Green Energy Park in Naivasha, reinforcing the facility’s position as a growing hub for renewable energy and green industrial development in Kenya.

The latest investor, Maxim Agri & Samakgro, joins a diverse group of companies operating within the Special Economic Zone (SEZ), although businesses in the energy sector continue to dominate the park’s investor base.

The development marks another milestone in KenGen’s strategy to diversify revenue streams beyond electricity generation while supporting Kenya’s ambitions to become a regional centre for sustainable industrialisation and clean energy investment.

Among the companies already operating at the Green Energy Park are China’s Kaishan Group, Synergetic Development Group, and Eco Cloud, all of which focus on various aspects of the energy value chain.

Kaishan Group manufactures power generation equipment, develops and operates geothermal power plants, and produces ammonia using green hydrogen. Synergetic Development Group specialises in engineering, procurement, and construction services for infrastructure, oil and gas, and energy projects, while Eco Cloud develops, finances, and constructs renewable energy projects.

The park has also attracted investment from Aquilastar Corporate Investment Company, an electric vehicle assembler, and the Konza Technopolis Development Authority, highlighting the facility’s appeal beyond the energy sector.

Welcoming the newest investor, KenGen Managing Director and Chief Executive Officer Peter Njenga described the investment as a strong endorsement of Kenya’s green industrialisation agenda.

“We are delighted to welcome Maxim Agri Ltd as the latest investor in the KenGen Green Energy Park. This investment is a strong vote of confidence in Kenya’s green industrialisation agenda and affirms the growing demand for reliable, affordable, and sustainable energy solutions to power industrial growth,” Njenga said.

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Special Economic Zone Driving Investment

Declared a Special Economic Zone (SEZ) in 2025, the Green Energy Park has become a central pillar of KenGen’s revenue diversification strategy while helping Kenya attract foreign direct investment and create employment opportunities.

The park was later designated a customs-controlled area, enabling investors to benefit from a range of fiscal incentives. These include exemption from Value Added Tax (VAT) registration requirements, zero-rated supplies of goods and taxable services, and a reduced corporate income tax rate of 10% for the first 10 years of operation.

The incentives are designed to attract manufacturers and clean energy companies seeking cost-efficient production powered by Kenya’s abundant geothermal energy resources.

Supporting Revenue Diversification

The Green Energy Park, alongside carbon credit trading, forms part of KenGen’s broader strategy to increase income from non-electricity businesses.

The state-owned power producer has set a target of growing non-electricity revenue to account for 20% of total revenue, strengthening its resilience against fluctuations in the power generation business.

The diversification push comes after KenGen reported a decline in profitability during the half-year ended December 2025. Net profit fell 20.2% to Sh4.22 billion, down from Sh5.29 billion in the corresponding period a year earlier, despite recording higher electricity sales to Kenya Power.

The company attributed the decline to a higher tax burden and increased reimbursable costs, including fuel and water expenses.

With new investors continuing to establish operations at the Green Energy Park, KenGen is positioning the facility as a key driver of Kenya’s green economy while expanding alternative sources of revenue beyond electricity generation