Synergetic Development Group will set up a steel fabrication plant at the Green Energy Park owned by Kenya Electricity Generating Company (KenGen), boosting KenGen’s electricity sales.
Synergetic inked the deal to set up a steel logistics and fabrication centre, which will take up 10 acres and is expected to use 18 Megawatts (MW) of green energy and about 360,000 litres of water.
It will join other firms that have opened operations at the site that is powered by KenGen's geothermal resources, benefitting from cheaper electricity tariffs and tax incentives.
KenGen said Synergetic is the fourth investor to set base at its green park, which was opened in November 2025. The others are Konza Technopolis, Kaishan Group and electric vehicles assembler AquilaStar.
Strong momentum
“The onboarding of Synergetic Development Group as our investor at the KenGen Green Energy Park is a testament to the growing confidence that industry players have in our green energy offering,” KenGen Chief Executive Peter Njenga said on Friday.
“The addition of Synergetic Development Group brings the total number of investors at the KenGen Green Energy Park to four, reflecting strong momentum in positioning the facility as a preferred destination for green industrial investment in the East African region.”
The green park, sitting on an estimated 845 acres is a Special Economic Zone (SEZ) meant to attract investors through friendly policies like cheap power, tax breaks and long-term land leases in efforts to attract manufacturers, technology firms, and energy-intensive industries.
The zones offer investors with electricity which is cheaper than the retail tariffs, tax-breaks and one-stop clearance shops among others. Dividends paid by an SEZ enterprise, for instance, are exempt from withholding taxes.
Royalties, interest and consultancy fees --among others paid to a non-resident entity by an SEZ firm are also exempt from withholding taxes.
SEZs have emerged as a strong selling point that Kenya is using to attract investors and boost efforts to create jobs and address the unemployment crisis.
Synergetic is expected to directly and indirectly employ 150 workers at the new facility, besides supporting local supply chains mainly through affordable steel products.
The green park will supply investors with reliable and cheap geothermal power from the surrounding plants, owned by KenGen and thus resolving one of the major headaches that has faced investor setting base in Kenya.
The four investors at the green park are set to boost KenGen’s electricity sales, further helping to strengthen its bottom line.
KenGen is betting on the green park as a major plank of its diversification strategy as the company seeks to remain on the profitability path.
The State-owned electricity producer reported a net profit of Sh4.2 billion in the half year ended December 2025, down from Sh5.2 billion a year earlier on reduced finance income and a higher effective tax bill.
