ADDIS ABEBA– Ethiopian Electric Power (EEP) said it has garnered over 66.4 million USD from the sale of electricity to Sudan and Djibouti in the 2019/2020 fiscal year.
The amount has increased by nearly 10 million US dollars from EEP’s plan for the year.
The state-run institute target was to collect 56.92 million USD. But it has collected 116.5% of its target, said in a statement issued on Tuesday.
According to the statement, about 37.1 million USD was collected from Djibouti while the remaining 29.3 million USD was from Sudan.
This year’s revenue from electricity sales has also shown an 11.5 million USD increase as compared to the previous year.
It explained that having enough water in Dams that could produce enough electricity contributed to the success of the plan.
According to EEP, the country will expand its market in the near future. Kenya also has an agreement with Ethiopia over the importation of electricity.
The construction of a high-voltage transmission line and a power converter station are nearing completion to sale power to Kenya, EEP said.
In addition to the three countries, Ethiopia is also in the process of establishing bilateral relations with Somaliland, Tanzania, and South Sudan, according to EEP’s statement.
By Mhret G/kristos
Image Caption: Installing the Ethiopia-Kenya power transmission line is expected to be completed soon [Photo File]