10 Billion birr ($180 Million) earmarked by State-owned Utility Ethiopian Electric Power (EEP) from electricity exports to Neighboring Nations for this Financial Year from the Country’s Coffers

By Abdul Rahman Bangura-

Photo Credit: IStock

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Ato Moges Mekonen – Director of Corporate Communications at EEP told Ethiopia’s state media that in the current fiscal year, more than 2,993GW of electricity will be exported to mainly Sudan, Kenya and Djibouti.

Across-the-board, in the existing fiscal year, the EEP is scheduling to earn 30 billion birr (around $538.3m) from exports, local electricity sales and services. Mekonen said that the EEP is even intending to earn income in this cycle from domestic electricity consuming industries, railway power sales and various services.

In the 2015 fiscal year, it earned 22.3 billion birr (around $394m) from exports, domestic sales and services. Foreign exports accounted for 5.5 billion birr (around $98m) of the earned income, he let out.

Moges said 1,701GW of electricity was exported to Sudan, Djibouti and Kenya in the prior financial year. He told fresh consensuses are being made to boost the nation’s foreign exchange earnings by exporting electricity to more countries. Once completed, as a start, more electricity will be exported to Tanzania this year.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent