Kenya power extends energy access to 1m new customers

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No fewer than million Kenyans will be connected to the national grid the present fiscal year, starting July.
Power, a largely government-owned power company, which serves at least 2.8 million customers, said it plans to up this by 36 percent – attracting about million to the national grid.
The NSE-listed power company added 443,000 new customers to its grid the last fiscal year. Most of its new customers are the dwellers.
Before 2017, the power firm plans to add 5,000 megawatts of power generation capacity to the existing 1,664 MW.
Power CEO, Ben Chumo said the company’s expansion is line with the government’s ambition of achieving 70 percent electricity penetration the next six years.[eap_ad_2]
Although Chumo did state the source of the fund for the expansion , he stated that the company had inked agreements with several financial institutions. In the last year, it has sourced capital through a debt mix from the European Union, the World Bank and the French Development Agency.
Inadequate power supply has forced many businesses in to rely on power sources to run their businesses, propelling a surge in operating costs and a subsequent hike in goods prices and living standards. in Kenya is expected to push power demand up to 15,000 MW by 2030.
Kenya is expected to grow by 5 percent this year, with a boosted power supply expected to attract an increased pool of investors into the East African country. Joseph K. Njoroge, the Principal Secretary, Ministry of Energy & , said the needed infrastructure is already in place.  (VENTURES )[eap_ad_3]