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Kenya Power bets on electric cars to boost fortunes

BUSINESS
By Fredrick Obura | March 2nd 2021
Kenya Power building (PHOTO: Courtesy)

NAIROBI, KENYA: Kenya Power has trained its eyes on transport angling for a pie of the growing electronic cars industry.

In the last few years, the phenomenon of electric motorisation or e-mobility has grown exponentially, electronic vehicles are estimated at over 7.2 million and electric motorcycles at over 65,000 globally.

The growth is primarily being driven by the adoption of progressive green energy policies by global leaders, as the world rallies to save the planet from further environmental degradation due to human activity.

On Tuesday, Kenya Power exuded confidence in the new development and banks on partnerships to power the new machines and offer Kenya the opportunity to drive clean cars.

“We are committed to providing clean, reliable and quality electricity to our customers as we embrace the opportunities presented by electric motorization,” said Bernard Ngugi, Chief Executive Officer Kenya Power.

“We have partnered with the United Nations Environment Programme (UNEP) to lead the implementation of the Electric Mobility Programme in Kenya. I am glad that today we are on course in the journey of actualising the program. This initiative is well-aligned to our business of creating demand and sale of electricity,” he said

The programme, currently in the pilot phase, will spearhead the adoption of zero emissions’ electric motorbikes which will be attached to Kenya Power’s meter reading and revenue collection teams in Kiambu, Githunguri, Limuru, Naivasha and Ruai.

Kenya Power which currently has 8 million customers across the country is also relying on the ministry of Housing and Urban Development which has made provisions for external charging ports to be incorporated into the building standards to support e-mobility charging at residential premises.

Last week the company said its profit after tax for the first six months trading period ended December 31, 2020 fell by 80 per cent, hurt by the coronavirus pandemic.
The power distributor said its net profit fell to Sh138 million for six months from Sh692 million in the same period of 2019.
It blamed the loss on the effects of Covid-19 restrictions last year that depressed its sales.
Revenue from contracted customers fell marginally to Sh69 billion last year from Sh69.6 billion in the same period of the previous year.
The firm said the measures put in place by the government to contain the spread of the coronavirus suppressed demand for electricity and revenue collection.

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