Ethiopian Electric Power (EEP) recently reported strong earnings from electricity exports. EEP generated over 31 million dollars from sales to neighbouring countries last quarter. This achievement highlights Ethiopia’s growing role in the East African energy market.
EEP earned about 10.4 million dollars from electricity supplied to Djibouti. The utility delivered around 314,931 megawatt-hours. This partnership strengthens regional cooperation and supports Djibouti’s energy needs.
Despite the ongoing conflict in Sudan, EEP still managed to earn over 659,000 dollars from the 13,185 megawatt-hours it provided. The war limited EEP to only 15% of its planned supply. This situation shows EEP’s resilience in challenging circumstances.
A significant portion of EEP’s revenue, over 27 million dollars, came from foreign companies involved in digital data processing in Ethiopia. This shift towards billing in US dollars by Ethiopian Electric Power boosts foreign currency earnings and reflects growing international investment in Ethiopia’s infrastructure.
Ethiopia aims to increase its electricity export revenue to 400 million dollars within the next decade. The government plans to enhance energy export capacity and improve trade relationships with neighbouring countries like Kenya and Tanzania.
The potential for growth in Ethiopia’s energy sector is substantial. EEP’s recent performance indicates a strong foundation for future expansion. The utility will continue exploring new markets and strengthening existing partnerships. With a focus on renewable energy and infrastructure development, Ethiopia is set to become a key player in the regional energy market.
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