By Teddy Nwanunobi
The Ethiopian Electric Power (EEP) has announced that Ethiopia has secured more than $90.5 million revenue from electricity energy export to Sudan and Djibouti during the recently concluded 2020/21 fiscal year.
According to an Ethiopian Monitor report on Tuesday, the amount showed a significant increase from the revenue the country collected in the previous budget year.
The nation earned $66.4 million, after exporting electricity to the two East African nations.
The revenue, the EEP announced, exceeded the target set for the fiscal year that ended on July 7, 2021.
It reported the Communication Director of EEP, Mogos Mekonnen, as saying in an interview with Ethiopian News agency that Ethiopia has obtained more than $90.5 million from exported power to neighboring countries, exceeding its target of over $80 million.
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 per cent, according to its communication bureau.
Building power generators, power generation, putting it to the grid through minimising wastage and putting it to use have been improved at national level, Mekonnen told the news agency.
This has increased EEP’s revenue as well as its capacity to finance projects, he added.