- This is through investments in fibre, general consultancy at local and regional levels, and optimisation of its property through leasing.
- IESR is a subsidiary of Kenya Power mandated to champion the company’s revenue diversification agenda.
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. Managing director and CEO Joseph Siror said over the next five years; the company is targeting to grow non-core revenue to at least three per cent of the total revenue. This is through investments in fibre, general consultancy at local and regional levels, and optimisation of its property through leasing.
He spoke on Friday during the 2023 Institute of Energy Studies and Research (IESR) graduation ceremony. Presently, non-core revenue accounts for about 0.7 per cent of the company’s total revenue. IESR is a subsidiary of Kenya Power mandated to champion the company’s revenue diversification agenda.
It also hosts the company’s electricity meters laboratory, the second facility within the Sub-Saharan region after South Africa. In addition to testing company meters, the laboratory tests and calibrates meters and equipment for other entities at a cost. Siror said, “Our focus is to ensure that IESR becomes the centre of excellence in Africa, leveraging Kenya Power as a market leader in the region.” As part of its drive to grow revenue from the fibre business, IESR is installing smart poles in partnership with Safaricom at six locations within Nairobi.
During the Friday graduation, 592 graduates received diplomas and certificates in electrical engineering, petroleum geoscience, mechanical engineering and ICT. On the academic front, IESR offers 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 graduates in driving the growth and development of the energy industry. IESR also offers professional courses targeting local and international utilities in partnership with other institutions and development partners.