KCB Group has become the latest major company in Kenya to embrace solar power as an alternative to Kenya Power. The bank has announced that it has installed solar power in two of its branches as it seeks for an efficient alternative to Kenya Power’s frequent outages.
In addition to the two solar-powered branches, KCB Group has stated that it intends to power nineteen other branches with solar by the of the 2025 financial year. The bank last year also installed energy saving lights in 108 branches out of its 206 branches in the 2023 financial year. This has been revealed in the bank’s annual report.
The bank revealed that frequent power outages by Kenya Power had pushed its fuel costs up by 54 per cent in the 2023 financial year.
“The group has mapped areas with frequent power outages, which increase fuel dependency. This exercise has identified 19 branches for solarization by 2025. Other facilities will undergo upgrades of their machinery and equipment such as data centres to ensure optimal energy efficiency,” KCB Group said in the report.
Prior to KCB announcing that it was starting to embrace solar energy, other companies that have embraced this alternative have included poultry company Kenchic which announced that it was turning to solar energy to cut down on expensive power bills from Kenya Power in January 2024.
Grounded 787 Dreamliners, unavailable aircrew behind KQ flight disruptions
East African Breweries is the other major company that is moving from Kenya Power to solar. The company is currently rolling out a Sh. 22 billion plan that it expects to help delink it from Kenya Power by 2030. Other big power consumers including Africa Logistics Properties, DTB Group, Mombasa International Airport, the International Centre of Insect Physiology and Ecology (ICIPE), Bamburi Cement, and Sasini have commissioned solar power units on their properties.
