Ethiopia's Electric Power Revenue Soars 96% Year-on-Year in First Quarter, Boosted by GERD: Company
Ethiopia's Electric Power Revenue Soars 96% Year-on-Year in First Quarter, Boosted by GERD: Company
Ethiopian Electric Power (EEP) has announced a strong financial performance for the first quarter of the Ethiopian fiscal year, earning 26.8 billion birr ($176.8 million) from electricity sales, according to Andualem Siae, Executive Officer of EEP’s Transmission Business Sector.
The state-owned electric utility surpassed its revenue target by 7.6%, with sales volume growing by 47% year-on-year.
Domestic customers accounted for 93.2% of power sold, with the industrial and technology sectors consuming 39.2% of total output, according to Siae.
Electricity exports to neighboring Kenya, Tanzania, and Djibouti represented 6.8% of total sales, he noted.
EEP officials attributed the growth to recent infrastructure developments, including the operationalization of the GERD and ongoing investments in geothermal, wind, and solar projects.
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