NAIROBI, Kenya, June 16 – Kenya Power (KPLC) plans to grow revenue away from its core business of power sales through subsidiary institutions.
The utility firm is targeting to grow non-core revenue to at least 3 percent of its total income investments through fiber, general consulting in Kenya and beyond.
“Over the next five years, we are targeting to grow non-core revenue to at least 3% of the total revenue through investments in fiber, general consultancy at both local and regional levels,” KPLC Managing Director Joseph Siror said during a graduation ceremony at the Institute of Energy Studies and Research (IESR) in Nairobi today.
IESR, which is owned by KPLC, does consultancy and research business in various areas within the energy value chains besides hosting Kenya Power’s electricity meters laboratory, the second such facility within the Sub-Saharan region after South Africa.
“Our focus is to ensure that IESR becomes the Center of Excellence in Africa, leveraging on Kenya Power as a market leader in the region,” added Siror.
Energy and Petroleum Cabinet Secretary Davis Chirchir implored Kenya Power to invest in the rich labor force even as it seeks to capitalize on revenue collection.
“I applaud the Institute of Energy Studies and Research (IESR) for their commitment to empowering the next generation of energy professionals,” said Chirchir.
“As we transition towards a sustainable energy future, the skills and knowledge acquired by these graduates will be instrumental in driving the transformation of our energy sector.”
