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KenGen HY 2019
obiero
#81 Posted : Monday, June 24, 2019 11:09:26 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,179
Location: nairobi
MaichBlack wrote:
sparkly wrote:
MaichBlack wrote:
MaichBlack wrote:
sparkly wrote:
FUNKY wrote:
https://www.kbc.co.ke/kengen-to-set-up-an-energy-research-and-development-laboratory-in-tana/amp/?__twitter_impression=true


Some of these off-balance sheet investments like bottling drinking water, running industrial park, Transformer & Solar cell manufacturing are distracting and potentially money losing.

Kengen should just concentrate on power generation and ancillary services like research and engineering. Those other investments are Enron style diversions.

It normally works if semi autonomous offshoots are formed.

General Electric is a good example...


General Electric is not a third world government owned utility company.

So what exactly is your issue? Diversification or the fact that Kengen is a third world government owned utility???

It could also work right here in KE.. Ours is a blessed country with a few rotten elements
COOP 5,500; KCB 7,500; KNRE 100,000; KQ 221,100
Metch
#82 Posted : Monday, June 24, 2019 11:14:14 AM
Rank: Member


Joined: 12/22/2015
Posts: 165
Location: Mombasa, Kenya
MaichBlack wrote:
Metch wrote:
sparkly wrote:
FUNKY wrote:
https://www.kbc.co.ke/kengen-to-set-up-an-energy-research-and-development-laboratory-in-tana/amp/?__twitter_impression=true


Some of these off-balance sheet investments like bottling drinking water, running industrial park, Transformer & Solar cell manufacturing are distracting and potentially money losing.

Kengen should just concentrate on power generation and ancillary services like research and engineering. Those other investments are Enron style diversions.


Reminds me of Mumias...
Important is to keep your eyes peeled. Parachute out at the slightest sign of monkey business

Mumias was not killed by diversification. It was killed by the blatant rape, thuggery, corruption and plunder by some very well known professional thugs!!!


U r right. The point was, as we were celebrating diversification, blatant rape, thuggery, corruption and plunder were taking root in the core business. Diversification was the red herring that took investors' eyes off the ball
Start!
sparkly
#83 Posted : Monday, June 24, 2019 11:23:50 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,206
Location: Enk are Nyirobi
MaichBlack wrote:
sparkly wrote:
MaichBlack wrote:
MaichBlack wrote:
sparkly wrote:
FUNKY wrote:
https://www.kbc.co.ke/kengen-to-set-up-an-energy-research-and-development-laboratory-in-tana/amp/?__twitter_impression=true


Some of these off-balance sheet investments like bottling drinking water, running industrial park, Transformer & Solar cell manufacturing are distracting and potentially money losing.

Kengen should just concentrate on power generation and ancillary services like research and engineering. Those other investments are Enron style diversions.

It normally works if semi autonomous offshoots are formed.

General Electric is a good example...


General Electric is not a third world government owned utility company.

So what exactly is your issue? Diversification or the fact that Kengen is a third world government owned utility company???



Your argument is that diversification is good for Kengen. You give an example of GE where diversification has worked well.

My points are as follows:

1. Kengen has not exhausted its core function of investing in power generation. Some argue that Kenya is oversupplied with power. However neighbouring countries are not. As a shareholder, I will be happy if Kengen invests in a power plant in Somalia, Congo, South Sudan, Uganda etc

2. GE is a purely for profit first world conglomerate while Kengen is a third world majority government owned utility company. GE diversification projects are evaluated for ROI and optimal allocation of capital. Kengen projects on the other hand will end up as money draining white elephants. There will be no accountability by management. Peer for comparison for Kengen is Mumias not GE.

3. As a Kengen shareholder, the diversification projects don't inspire confidence. In my opinion, instead of allocating capital in tenderprising projects, they should invest in core power generation, pay down debt or just pay us dividends. That said, I am on the lookout to exit at an appropriate price.
Life is short. Live passionately.
Pesa Nane
#84 Posted : Monday, June 24, 2019 9:24:59 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
obiero wrote:
MaichBlack wrote:
sparkly wrote:
MaichBlack wrote:
MaichBlack wrote:
sparkly wrote:
FUNKY wrote:
https://www.kbc.co.ke/kengen-to-set-up-an-energy-research-and-development-laboratory-in-tana/amp/?__twitter_impression=true


Some of these off-balance sheet investments like bottling drinking water, running industrial park, Transformer & Solar cell manufacturing are distracting and potentially money losing.

Kengen should just concentrate on power generation and ancillary services like research and engineering. Those other investments are Enron style diversions.

It normally works if semi autonomous offshoots are formed.

General Electric is a good example...


General Electric is not a third world government owned utility company.

So what exactly is your issue? Diversification or the fact that Kengen is a third world government owned utility???

It could also work right here in KE.. Ours is a blessed country with a few rotten elements


hehe! Reminds me of post #2358 Posted Sunday, October 04, 2015 8:07:29 PM

Not to mention the KQ Airport shuttle and KQ Taxis Laughing out loudly
Pesa Nane plans to be shilingi when he grows up.
sparkly
#85 Posted : Monday, June 24, 2019 9:56:32 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,206
Location: Enk are Nyirobi
Pesa Nane wrote:
obiero wrote:
MaichBlack wrote:
sparkly wrote:
MaichBlack wrote:
MaichBlack wrote:
sparkly wrote:
FUNKY wrote:
https://www.kbc.co.ke/kengen-to-set-up-an-energy-research-and-development-laboratory-in-tana/amp/?__twitter_impression=true


Some of these off-balance sheet investments like bottling drinking water, running industrial park, Transformer & Solar cell manufacturing are distracting and potentially money losing.

Kengen should just concentrate on power generation and ancillary services like research and engineering. Those other investments are Enron style diversions.

It normally works if semi autonomous offshoots are formed.

General Electric is a good example...


General Electric is not a third world government owned utility company.

So what exactly is your issue? Diversification or the fact that Kengen is a third world government owned utility???

It could also work right here in KE.. Ours is a blessed country with a few rotten elements


hehe! Reminds me of post #2358 Posted Sunday, October 04, 2015 8:07:29 PM

Not to mention the KQ Airport shuttle and KQ Taxis Laughing out loudly



Spot on!
Life is short. Live passionately.
Ericsson
#86 Posted : Tuesday, June 25, 2019 6:06:38 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,214
Location: NAIROBI
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents
Olkaria V commissioning to be done in FY 2019/2020
sparkly
#87 Posted : Tuesday, June 25, 2019 9:41:12 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,206
Location: Enk are Nyirobi
Ericsson wrote:
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents -
Olkaria V commissioning to be done in FY 2019/2020


Rink?
Life is short. Live passionately.
Ericsson
#88 Posted : Tuesday, June 25, 2019 9:43:32 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,214
Location: NAIROBI
sparkly wrote:
Ericsson wrote:
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents -
Olkaria V commissioning to be done in FY 2019/2020


Rink?

For dividend that was mentioned during the AGM.
For Olkaria V with the remaining time there is no chance of it coming on board before sunday night.
KaunganaDoDo
#89 Posted : Tuesday, June 25, 2019 8:07:25 PM
Rank: Member


Joined: 8/6/2018
Posts: 160
Ericsson wrote:
sparkly wrote:
Ericsson wrote:
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents -
Olkaria V commissioning to be done in FY 2019/2020


Rink?

For dividend that was mentioned during the AGM.
For Olkaria V with the remaining time there is no chance of it coming on board before sunday night.


Synchronization of Olkaria V to the grid is ongoing. Then the Commercial Tests. Testing and commissioning is an ongoing process. By July 1st, as commissioning continue, dispatch to the grid will continue
Ericsson
#90 Posted : Friday, June 28, 2019 9:25:38 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,214
Location: NAIROBI
KaunganaDoDo wrote:
Ericsson wrote:
sparkly wrote:
Ericsson wrote:
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents -
Olkaria V commissioning to be done in FY 2019/2020


Rink?

For dividend that was mentioned during the AGM.
For Olkaria V with the remaining time there is no chance of it coming on board before sunday night.


Synchronization of Olkaria V to the grid is ongoing. Then the Commercial Tests. Testing and commissioning is an ongoing process. By July 1st, as commissioning continue, dispatch to the grid will continue


(Bloomberg)-----Olkaria V plant expands Kenya Electricity Generating Co.’s geothermal power -producing capacity by one-third to 680 megawatts,Chief Executive Officer Rebecca Miano says by email.
• Company’s total capacity climbs to 1,789 megawatts
• Tests at new plant ongoing before potential connection to grid next month.
• NOTE:Kengen plans to build additional 720 megawatts of generating capacity in five years
VituVingiSana
#91 Posted : Friday, June 28, 2019 1:40:02 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,282
Location: Nairobi
Ericsson wrote:
KaunganaDoDo wrote:
Ericsson wrote:
sparkly wrote:
Ericsson wrote:
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents -
Olkaria V commissioning to be done in FY 2019/2020


Rink?

For dividend that was mentioned during the AGM.
For Olkaria V with the remaining time there is no chance of it coming on board before sunday night.


Synchronization of Olkaria V to the grid is ongoing. Then the Commercial Tests. Testing and commissioning is an ongoing process. By July 1st, as commissioning continue, dispatch to the grid will continue


(Bloomberg)-----Olkaria V plant expands Kenya Electricity Generating Co.’s geothermal power -producing capacity by one-third to 680 megawatts,Chief Executive Officer Rebecca Miano says by email.
• Company’s total capacity climbs to 1,789 megawatts
• Tests at new plant ongoing before potential connection to grid next month.
• NOTE:Kengen plans to build additional 720 megawatts of generating capacity in five years
Have they got a PPA with KPLC for the 720MW? There’s less demand than current supply for existing production!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ebenyo
#92 Posted : Friday, June 28, 2019 2:03:03 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,702
Location: Kitale
VituVingiSana wrote:
Ericsson wrote:
KaunganaDoDo wrote:
Ericsson wrote:
sparkly wrote:
Ericsson wrote:
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents -
Olkaria V commissioning to be done in FY 2019/2020


Rink?

For dividend that was mentioned during the AGM.
For Olkaria V with the remaining time there is no chance of it coming on board before sunday night.


Synchronization of Olkaria V to the grid is ongoing. Then the Commercial Tests. Testing and commissioning is an ongoing process. By July 1st, as commissioning continue, dispatch to the grid will continue


(Bloomberg)-----Olkaria V plant expands Kenya Electricity Generating Co.’s geothermal power -producing capacity by one-third to 680 megawatts,Chief Executive Officer Rebecca Miano says by email.
• Company’s total capacity climbs to 1,789 megawatts
• Tests at new plant ongoing before potential connection to grid next month.
• NOTE:Kengen plans to build additional 720 megawatts of generating capacity in five years
Have they got a PPA with KPLC for the 720MW? There’s less demand than current supply for existing production!




Kenya power stopped PPAs.This was to reduce much expenses as they were many ppas which were unneccesary.
Towards the goal of financial freedom
KaunganaDoDo
#93 Posted : Friday, June 28, 2019 7:07:35 PM
Rank: Member


Joined: 8/6/2018
Posts: 160
Ericsson wrote:
KaunganaDoDo wrote:
Ericsson wrote:
sparkly wrote:
Ericsson wrote:
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents -
Olkaria V commissioning to be done in FY 2019/2020


Rink?

For dividend that was mentioned during the AGM.
For Olkaria V with the remaining time there is no chance of it coming on board before sunday night.



Synchronization of Olkaria V to the grid is ongoing. Then the Commercial Tests. Testing and commissioning is an ongoing process. By July 1st, as commissioning continue, dispatch to the grid will continue


(Bloomberg)-----Olkaria V plant expands Kenya Electricity Generating Co.’s geothermal power -producing capacity by one-third to 680 megawatts,Chief Executive Officer Rebecca Miano says by email.
• Company’s total capacity climbs to 1,789 megawatts
• Tests at new plant ongoing before potential connection to grid next month.
• NOTE:Kengen plans to build additional 720 megawatts of generating capacity in five years


720MW is pure porojo that corporate executives feed their shareholders. They have extensive steam reservoir of this capacity but They will not be doing power plant in the forseable future ,not even six years. Even Olkaria 1 unit 6 (80MW) that is being done next to the existing Olkaria 1 is proving a hard sell. There will be no new projects in the near future. Olkaria V (153MW) this year and Olkaria 1 Unit 6 (80MW) in 2020 will be the only projects in the forseable future... unless otherwise
Ericsson
#94 Posted : Friday, June 28, 2019 7:49:48 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,214
Location: NAIROBI
KaunganaDoDo wrote:
Ericsson wrote:
KaunganaDoDo wrote:
Ericsson wrote:
sparkly wrote:
Ericsson wrote:
FY comes to an end in Sunday 2359hrs.
Dividend to be retained at 40 cents -
Olkaria V commissioning to be done in FY 2019/2020


Rink?

For dividend that was mentioned during the AGM.
For Olkaria V with the remaining time there is no chance of it coming on board before sunday night.



Synchronization of Olkaria V to the grid is ongoing. Then the Commercial Tests. Testing and commissioning is an ongoing process. By July 1st, as commissioning continue, dispatch to the grid will continue


(Bloomberg)-----Olkaria V plant expands Kenya Electricity Generating Co.’s geothermal power -producing capacity by one-third to 680 megawatts,Chief Executive Officer Rebecca Miano says by email.
• Company’s total capacity climbs to 1,789 megawatts
• Tests at new plant ongoing before potential connection to grid next month.
• NOTE:Kengen plans to build additional 720 megawatts of generating capacity in five years


720MW is pure porojo that corporate executives feed their shareholders. They have extensive steam reservoir of this capacity but They will not be doing power plant in the forseable future ,not even six years. Even Olkaria 1 unit 6 (80MW) that is being done next to the existing Olkaria 1 is proving a hard sell. There will be no new projects in the near future. Olkaria V (153MW) this year and Olkaria 1 Unit 6 (80MW) in 2020 will be the only projects in the forseable future... unless otherwise


True
Unless there is a significant growth in demand
Olkaria 1 unit 6 is set for completion in 2021
murchr
#95 Posted : Tuesday, July 02, 2019 5:33:04 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,796
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Ericsson
#96 Posted : Tuesday, July 02, 2019 9:49:50 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,214
Location: NAIROBI
Kengen to sell power from Olkaria to South Sudan

http://www.xinhuanet.com...19-07/02/c_138193143.htm
sparkly
#97 Posted : Tuesday, July 02, 2019 10:35:18 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,206
Location: Enk are Nyirobi
[quote=Ericsson]Kengen to sell power from Olkaria to South Sudan

http://www.xinhuanet.com...9-07/02/c_138193143.htm[/quote]

The kind of news that shareholders like to hear, not water bottling and solar panel manufacture.
Life is short. Live passionately.
FUNKY
#98 Posted : Tuesday, July 02, 2019 11:41:53 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,497
sparkly wrote:
[quote=Ericsson]Kengen to sell power from Olkaria to South Sudan

http://www.xinhuanet.com...9-07/02/c_138193143.htm[/quote]

The kind of news that shareholders like to hear, not water bottling and solar panel manufacture.


Kengen is not mumias I am sure the water bottling plant will generate some profit. They will save money buying staff drinking water and at the same time sell also.
kawi254
#99 Posted : Wednesday, July 03, 2019 11:01:00 AM
Rank: Member


Joined: 2/20/2015
Posts: 328
Location: Nairobi
FUNKY wrote:
sparkly wrote:
[quote=Ericsson]Kengen to sell power from Olkaria to South Sudan

http://www.xinhuanet.com...9-07/02/c_138193143.htm[/quote]

The kind of news that shareholders like to hear, not water bottling and solar panel manufacture.


Kengen is not mumias I am sure the water bottling plant will generate some profit. They will save money buying staff drinking water and at the same time sell also.


Logistic cost of ferying drinking water to Turkwell, Masinga, Kipevu, Olkaria for some ~3000 employees are too great to make this profitable.

As @KaunganaDoDo says, all this is porojo that corporate executives feed. KenGen also signed to sell 30 MW to Rwanda some years back when Kagame was around but KETRACO hasn't yet even finished the Olkaria-lesos transmission line to Kisumu. Before the whole region is interlinked with power all this selling power to South Sudan is porojo.
KaunganaDoDo
#100 Posted : Wednesday, July 03, 2019 11:21:10 AM
Rank: Member


Joined: 8/6/2018
Posts: 160
[quote=Ericsson]Kengen to sell power from Olkaria to South Sudan

http://www.xinhuanet.com...9-07/02/c_138193143.htm[/quote]

More Porojoooo....KenGen has contracted all of its installed Generation Capacity to KPLC...it doesn't have any spare to sell to other Party without Breaking POwer Purchase Agreements with KPLC. Even the oncoming Olkaria V and Olkaria 1 Unit VI is all contracted.

The only entity that can sell power to SSudan in KPLC, since its the owner of the excess contracted Capacity. Just like Kenya Buys power from Uganda...Kplc doesn't buy it from The Generator..UEGCL, it buys from UETCL...Uganda Electricity Transmission Company Limited.

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