Moges Mekonen, Communication Director at Ethiopia Electric Power (EEP) Friday said this is the highest revenue from energy exports the east African country has earned, with previous fiscal years’ exceeding the previous revenue by nearly $70 million.
EEP also disclosed plans to sell an additional 1,000 Megawatts of energy to the east African neighboring nations including South Sudan.
The revenue exceeded the target set for the fiscal year that ended on July 7, 2021, announced state-owned Ethiopian Electric Power (EEP).
Ethiopia has obtained more than 90.5 million US dollars from exported power to neighboring countries exceeding its target of over 80 million US Dollars, said Mogos Mekonnen, communication Director of EEP, in an interview with Ethiopian News agency.
Plans are in place to increase electric power export to more countries as EEP receives more requests to purchase electric power from Ethiopia.
Meanwhile, the state-owned electric producer has also collected over 13.2 billion birr from domestic power sales during the year.
EEP’s foreign and domestic power sales performance registered 101.1 percent, according to its communication bureau.
Building power generators, power generation, putting it to the grid through minimizing wastage and putting it to use have been improved at national level, Mogos told the news agency.
This has increased EEP’s revenue as well as its capacity to finance projects, he added.
The energy sector is one of Ethiopia’s priorities as the country envisages becoming a light manufacturing hub in Africa and a middle-income economy by 2025.
The East African country is striving to increase its electricity generating capacity from the current 4,200 MW to around 35,000 MW by 2037.