Nairobi, September 15th, 2017… Kenya Power has launched an energy loss reduction initiative in partnership with International Finance Corporation (IFC). The aim of the initiative is to reduce technical and commercial losses in the utility’s network.
“Reduction in energy losses is critical to the company as it translates to increased revenue hence improved profitability,” said Kenya Power Managing Director and CEO Dr Ken Tarus.
“Kenya Power’s energy loss for the financial year ended June 2016 stood at 18.8%. Though it is an improvement from the 19.4% the previous financial year, we are yet to reach our target of single digit losses,” Dr Tarus added.
“To help us achieve our single digit target, we have contracted the IFC’s Energy & Water Advisory to implement loss reduction initiatives. These initiatives include support for both technical and commercial loss reduction, training, and management support,” Dr Tarus said.
The advisory service contract is a two-year assignment at a projected cost of Kshs 80 million with IFC and Kenya Power each financing 50% of the budget. The Kenya Power financing component is linked to deliverables over the 2-year duration of the project.