Kenya Power launches Foundation to drive clean energy initiatives

Clean energy initiatives such as clean cooking and e-mobility are two key focus areas of the recently formed Kenya Power Foundation.?

In launching the Foundation this week, Kenya Power MD and CEO, Joseph Siror, said its mandate is structured around three pillars:

1. education and skills development,
2. energy and environment, and
3. social investment and community wellness.

“We are promoting clean energy transition initiatives like e-cooking and e-mobility through the energy and environment pillar. The Foundation will amplify these programmes and work with partners to scale them and address barriers to entry, contributing to SDG7 and SDG13,” said Siror

Kenya Power said the sustainability of its business relies heavily on the environment.?

The Foundation aims to:?

1. Promote clean energy transition initiatives, such as clean cooking and e-mobility.?
2. Protect natural ecosystems by advocating for environmentally-friendly energy systems. This involves advocating for clean energy injection into the grid to maintain a climate-positive generation mix and protect natural ecosystems.?
3. Increase forest cover through tree planting initiatives. Kenya Power will continue environmental conservation efforts by planting trees in water catchment areas, schools, and hospitals across the country.?
4. Support flora and fauna conservation initiatives. The company will partner with relevant organisations to protect and conserve endangered species in various regions across Kenya.

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Funding

The company said it will be expected to provide an initial seed fund of at least 1% of annual net profits towards CSRI activities over the next five years.?

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The Foundation will use this seed funding to expand its funding portfolio.?

“As a company, we have committed to contributing 1% of our after-tax profits annually to ensure the Foundation has the requisite seed capital.?

“In years where margins fall short, we pledge a minimum of Ksh30 million (around $232,000) to support these initiatives,” said Siror.

Speaking during the launch, the Foundation’s Patron Logan Christi Hambrick noted that it will provide the critical link between Kenya Power’s business and social impact across all the communities that the company serves.