Addis Ababa (Ethiopia Today) January 26, 2023 :– The Ethiopian Electric Power (EEP) announced that over 39 million USD was obtained from exporting electricity to Djibouti and Sudan during the first six months of the current fiscal year.
While Djibouti is the leading destination for Ethiopia’s power exports with 21.4 million USD in revenue, the remaining 18.36 million USD was earned from Sudan; the EEP Communication Director Moges Mekonnen told The Ethiopia Herald.
Noting the utility planned to secure 44.57 million USD from exporting electricity to the two countries, the director indicated that the performance is 89percent of the target set for the reported period. During the past six months, the electricity export to Djibouti was eight percent (1.5 million USD) higher than the target. Conversely, due to the decreased demand of Sudanese companies to purchase electricity, export to that country has shown a 25 percent decrease from the plan.
EEP has explored the East African markets and it began exporting electricity to Kenya last month to boost revenue and help Ethiopia’s forex earrings.
“The construction of the GERD and other hydroelectric dams also manifested Ethiopia’s ambition to connect the region through electricity,” Moges adds.
Ethiopia’s foreign policy was designed in a way to embrace its neighbors and it is the major factor behind the country’s huge involvement in regional economic integration.