Adoption of Solar Power as a cost-cutting strategy

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Ecobank adopted solar power in a bid to ensure a dependable power supply and reduction of operation costs.

Solar energy company Distributed Power Africa (DPA) and Ecobank have signed an agreement to roll out solar power solutions in its seven branches across the country.

The seven branches are the head office, Fortis Office Park, Kisumu, Eldoret, Karatina, Nyeri, Thika, and Mombasa Moi Avenue branch.

“Our partnership with DPA on solar retrofitting in our branches is in line with our commitment to create a healthy financial system, promote environmentally friendly solutions and pursue sustainability of our banking services,” said Cheikh Travaly, Ecobank Kenya managing director and regional executive central, eastern and southern Africa (CESA).

The Kenyan solar adoption follows the implementation of three similar projects last year by ADP at Ecobank in Cote d’Ivoire.

Distributed Power Africa (DPA) stretches its operations in Kenya with completed projects such as Liquid Telkom’s data center in Nairobi and Agha Khan Hospital Mombasa.

Recently, Kenya Power’s industrial customers are slowly adopting the own-generated solar power. Several factories, companies, and universities use solar photovoltaic grid-tied systems to supply power for internal use.

Companies such as Africa Logistics Properties, Mombasa International Airport, and the International Centre of Insect Physiology and Ecology (ICIPE) have embraced the use of solar power units on their properties.

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Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: anthony@finsolutions.co.ke Contact: +254 780216631

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