Ethiopian Electric Power (EEP) has announced financial results for the last budget year, achieving a revenue of 20 billion birr. This figure not only exceeds the company’s initial target of 19 billion birr but also signifies a performance in the energy sector.
In a recent press release, CEO Asheber Balcha revealed that EEP generated 140 million dollars through electricity exports to foreign markets. This achievement represents a 16% increase compared to the previous year.
Looking ahead, Ethiopian Electric Power has set goals for the next budget year, aiming to reach 263 million dollars in revenue. By leveraging its resources and infrastructure, EEP is positioning itself to capitalize on the increasing demand for electricity both domestically and internationally.
In terms of production, CEO Asheber Balcha reported that EEP successfully generated 20,522 gigawatt hours of electricity in the 2016 fiscal year, achieving 98% of its production plan.
The demand for electricity in Ethiopia has surged, with consumption increasing by 17% over the past year. This rise in electricity usage highlights the country’s ongoing development and the critical role that EEP plays in supporting economic growth.
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