Ethiopia Earns Over $90.5 million from Power Export to Neighboring Countries

ADDIS ABABA – Ethiopia secured 90.5 million US Dollars revenue from electricity energy export to Sudan and Djibouti during the recently concluded 2020/21 fiscal year.

The amount has shown a significant increase from the revenue the country collected in the previous budget year. Last year, the nation earned 66.4 million US dollar after exporting electricity to the two east African nations.

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 request 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.


[Featured Photo EEP]