Africa-Press – Kenya. Kenya Power is eyeing to grow its non-core revenue to supplement income from electricity sales, as the company seeks to lay a firm foundation for business in the next century.
Over the next five years, the company is targeting to grow non-core revenue to at least three per cent of the total revenue, managing director and CEO Joseph Siror said.
This is through investments in fiber, general consultancy at both local and regional levels, and optimisation of its property through leasing.
He was speaking on Friday during the 2023 graduation ceremony of the Institute of Energy Studies and Research (IESR).
Presently, non-core revenue accounts for about 0.7 per cent of the company’s total revenue.
IESR is a subsidiary of Kenya Power that is mandated to champion the company’s revenue diversification agenda.
Apart from academia, IESR also undertakes consultancy and in various areas within the energy value chain.
It also hosts the company’s electricity meters laboratory, the second such facility within the Sub-Saharan region after South Africa.
In addition to testing company meters, the laboratory does testing and calibration of meters and equipment for other entities at a cost.
“Our focus is to ensure that IESR becomes the centre of excellence in Africa, leveraging on Kenya Power as a market leader in the region,” Siror said.
Like other utilities that have embraced revenue diversification, through IESR, Kenya Power will continue to explore avenues to tap into investments in various areas including research, capacity building and developing the right skills to serve the region’s needs, he added.
As part of its drive to grow revenue from the fiber business, IESR is currently installing smart poles in partnership with Safaricom at six locations within Nairobi.
Smart poles are special utility poles that support the provision of high-speed internet connectivity.
During the Friday graduation, 592 graduants received diplomas and certificates in electrical engineering, petroleum geoscience, mechanical engineering and ICT duri.
On the academic front, IESR focuses on offering technical and technological diploma and certificate courses in the four disciplines.
Energy and Petroleum CS Davis Chirchir said: “As we transition towards a sustainable energy future, the skills and knowledge acquired by these graduands will be instrumental in driving the transformation of our energy sector.”
He encouraged energy sector utilities to provide employment opportunities for skilled graduants, in driving the growth and development of the energy industry.
In partnership with other institutions and development partners, IESR also offers professional courses targeting local and international utilities.
In the past, IESR has trained professionals from utilities in Uganda, South Sudan, Somalia and Djibouti.
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