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KenGen HY 2019
Rank: Member Joined: 8/6/2018 Posts: 299
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kawi254 wrote:Often ignored is how hard it is to raise funds for power projects (geothermal). 6 years later the IPPs contracted by GDC to build Menengai geothermal plants haven't yet secured financing. Would have been cheaper,faster for Centum(Akiira) to invest in Menengai where steam is already available rather than sink billions in drilling empty wells. It is even sad considering that KenGen was one of the bidders for the menengai projects...but GDC,(GOVERNMENT) in their ill wisdom and desire to get cuts from the 3 IPPs, denied KenGen that opportunity and instead gave it to URP and kina Gideon Moi and some waindii...if KenGen had gotten one of the three slots, they would be up and running....already one of the three....Orpower has in effect failed to reach any milestone....
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Rank: Elder Joined: 12/4/2009 Posts: 10,808 Location: NAIROBI
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kawi254 wrote:Often ignored is how hard it is to raise funds for power projects (geothermal). 6 years later the IPPs contracted by GDC to build Menengai geothermal plants haven't yet secured financing. Would have been cheaper,faster for Centum(Akiira) to invest in Menengai where steam is already available rather than sink billions in drilling empty wells. Centum thought it wise to sink their own wells. What a waste of money Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,808 Location: NAIROBI
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KaunganaDoDo wrote:kawi254 wrote:Often ignored is how hard it is to raise funds for power projects (geothermal). 6 years later the IPPs contracted by GDC to build Menengai geothermal plants haven't yet secured financing. Would have been cheaper,faster for Centum(Akiira) to invest in Menengai where steam is already available rather than sink billions in drilling empty wells. It is even sad considering that KenGen was one of the bidders for the menengai projects...but GDC,(GOVERNMENT) in their ill wisdom and desire to get cuts from the 3 IPPs, denied KenGen that opportunity and instead gave it to URP and kina Gideon Moi and some waindii...if KenGen had gotten one of the three slots, they would be up and running....already one of the three....Orpower has in effect failed to reach any milestone.... Jubilee government wasn't interested in building state and locally owned companies. Sad state of affairs. You can imagine how many jobs would have been created had KENGEN been given the tender Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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KaunganaDoDo wrote:kawi254 wrote:Often ignored is how hard it is to raise funds for power projects (geothermal). 6 years later the IPPs contracted by GDC to build Menengai geothermal plants haven't yet secured financing. Would have been cheaper,faster for Centum(Akiira) to invest in Menengai where steam is already available rather than sink billions in drilling empty wells. It is even sad considering that KenGen was one of the bidders for the menengai projects...but GDC,(GOVERNMENT) in their ill wisdom and desire to get cuts from the 3 IPPs, denied KenGen that opportunity and instead gave it to URP and kina Gideon Moi and some waindii...if KenGen had gotten one of the three slots, they would be up and running....already one of the three....Orpower has in effect failed to reach any milestone.... Orpower 22 is Transcentury Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 12/4/2009 Posts: 10,808 Location: NAIROBI
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Fyatu wrote:KaunganaDoDo wrote:kawi254 wrote:Often ignored is how hard it is to raise funds for power projects (geothermal). 6 years later the IPPs contracted by GDC to build Menengai geothermal plants haven't yet secured financing. Would have been cheaper,faster for Centum(Akiira) to invest in Menengai where steam is already available rather than sink billions in drilling empty wells. It is even sad considering that KenGen was one of the bidders for the menengai projects...but GDC,(GOVERNMENT) in their ill wisdom and desire to get cuts from the 3 IPPs, denied KenGen that opportunity and instead gave it to URP and kina Gideon Moi and some waindii...if KenGen had gotten one of the three slots, they would be up and running....already one of the three....Orpower has in effect failed to reach any milestone.... Orpower 22 is Transcentury Really!!! https://www.ormat.com/en/home/a/main/Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:Angelica _ann wrote:Metch wrote:Ericsson wrote:sparkly wrote:Angelica _ann wrote:sparkly wrote:Angelica _ann wrote:Metch wrote:Ericsson wrote:kawi254 wrote:right about now the KenGen dividend would be rescuing the nJaanuary situation.
Wanjiku missed the yearly December trip to Nairobi to attend KenGen AGM. Does Wanjiku understand it is because Her president can't make up His mind? Dividend may come through HY results. This one doesn't require Auditor general Wanjiku is being entertained by BBI and desert locusts Are u saying they will release HY results before the long awaited FY? Shame on Jubilee. 14 member BBI committee appointed in record time to waste time and money... But we can't have an Auditor General. Shame! Shame & blame squarely fall on Baba. He should have helped Kenyans with this appointment, but he has been bought. The problem is the despot. Focus, viva. The despot behaves like a spoilt child who cannot link effects to his actions. Case in point is the war with the Judiciary. He is yet to approve 30 judges appointed by JSC. Treasury & Parliament connived to reduce budget allocations to the Judiciary. His Ministers defy court orders particularly on Miguna's immigration status. Yet he blames the Judiciary for inefficiency. He has directed parastatals to surrender idle cash to Treasury. Yet he has failed to appoint Auditor General to approve financials to enable the companies approve dividend payouts. In a couple of months he will be directing DCI to arrest and charge directors of the parastatals for failing to adhere to his directive. The despot must fall. Viva In the Kplc thread 'we were supposed to impeach him' if he didn't appoint the Auditor General within some specified time lines, what became of that?  I am for releasing the results as unaudited. Not allowedSparkly wrote:
IMO Kengen should just release the results as unaudited and pay dividends.
It's unacceptable for a company traded on a world recognized exchange to peg release of results on a political process that might take a whole year.
https://twitter.com/Nati...218157282124599298?s=19
 This will drag on in until mid year. Just like IEBC CEO recruitment. Blame is on the leadership that Kenyans voted in. The political leadership is not interested in following the law. Interest is on putting cronies, psycophants and lieutenants to sing their tunes. UK has gone rogue It took 2 days to impeach, remove and replace a Governor but it will take at least an year to get a new Auditor General. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Let's see if KenGen and/or KPLC will release unaudited 1H20 results. Others that might end up in the same boat includes Kenya Re and EAPCC. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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VituVingiSana wrote:Let's see if KenGen and/or KPLC will release unaudited 1H20 results.
Others that might end up in the same boat includes Kenya Re and EAPCC. It's a shame listed companies cannot release results because there is no Auditor. Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,808 Location: NAIROBI
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VituVingiSana wrote:Let's see if KenGen and/or KPLC will release unaudited 1H20 results.
Others that might end up in the same boat includes Kenya Re and EAPCC. Kenya Re is FY Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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sparkly wrote:VituVingiSana wrote:Let's see if KenGen and/or KPLC will release unaudited 1H20 results.
Others that might end up in the same boat includes Kenya Re and EAPCC. It's a shame listed companies cannot release results because there is no Auditor. EAPCC management must be enjoy the delay!!!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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