Some of the key pillars include electric mobility, getting more Kenyans to shift to electric cooking, energy storage, and electrification of several sectors to support decarbonization.
) owns and operates most of the electricity transmission and distribution system in Kenya. Kenya Power sells electricity to over 8.9 million customers. During the year ended 30th June 2022, Kenya Power recorded a 6.6% growth in sales to 9,813 gigawatt-hours, mainly supported by an expanding customer base, improved system efficiency, and an intensive countrywide loss reduction campaign geared towards tackling theft of electricity. This resulted into a KShs.3.5 billion profit after tax.
To sustain profitability and grow shareholder value, Kenya Power is looking to leverage new business frontiers as part of its five-year Strategic Plan for the period 2023-2028. Some of the key pillars of this new growth plan include electric mobility, getting more Kenyans to shift to electric cooking, energy storage, and electrification of several sectors to support decarbonization.There are a lot of exciting developments in Kenya’s nascent electric mobility sector.
Kenya’s grid is by powered 90% by renewables, led by geothermal, wind, hydro, and some utility-scale solar. There is a big opportunity for, Kenya’s largest electricity generating company and also largest operator of Kenya’s geothermal fleet, as well as Kenya Power, to unlock efficiencies and sell more kWh during the overnight off-peak periods to electric vehicle users, thereby generating more revenue. Kenya’s installed capacity is just over 3 GW. The peak demand is just over 2.1 GW.
People have been using wood, charcoal, and LPG for cooking because they believe that cooking with electricity is expensive. Tariffs for residential consumers in Kenya are around 20 cents/kWh. Kenya Power has therefore been going on a drive to promote electric cookers to stimulate demand.
Several players in Kenya are exploring the green hydrogen space for ammonia production for fertilizers to help cut Kenya’s fertilizer import bill. There could be a big opportunity there as well for Kenya Power to power those electrolyzers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dutch E-Mobility Brand BREKR Presents The Model F Electric BikeDutch electric two-wheeler specialist BREKR presents the new Model F electric bike with a radically styled frame and powerful electric motor for Bafang.
Read more »
Salt-Based Battery Could Unleash Cleaner Energy for Electric CarsResearchers from the UK and China developed a greener battery than the lithium-ion alternative. Read more about the study here.
Read more »
Martha Stewart’s Crowd-Pleasing Brunch Dish Relies On This $9 Store-Bought Ingredient.MarthaStewart's brunch dish is not only a crowd-pleaser, but isn't complete without an affordable ingredient!
Read more »
Gas price cap deal within reach, EU energy chief saysA deal on a European Union gas price cap is within reach, the bloc's energy policy chief said on Monday as she arrived to a meeting of EU countries' energy ministers in Brussels, where they will attempt to approve the policy.
Read more »
LG Energy Solution to invest $3.1 bln in S.Korea battery facilitySouth Korean battery maker LG Energy Solution said on Monday it plans to invest 4 trillion won ($3.1 billion) from this year to 2026 in a facility making batteries for electric vehicles and other goods.
Read more »