Ethiopia earns more than 90 mln USD from energy exports during last fiscal year

Addis Ababa, August 7, 2021 (FBC) – Ethiopia has earned 90.53 million U.S. dollars from energy exports during the concluded fiscal year 2020/2021, offical said.

Moges Mekonen, Communication Director at Ethiopia Electric Power (EEP), said the revenue was earned through energy exports to neighboring Djibouti and Sudan.

Mekonen said this is the highest revenue from energy exports the east African country has earned, with previous fiscal years’ revenues not exceeding 70 million U.S. dollars.

On Thursday, EEP disclosed plans to sell an additional 1,000 Megawatts of energy to the east African country’s neighboring nations.

Ethiopia’s energy exports are part of a broader plan to economically integrate the East African region through electricity.

The energy sector is one of Ethiopia’s priorities as the country envisages becoming a light manufacturing hub in Africa and a middle-income economy by 2025.

Ethiopia has identified hydro, wind, geothermal, solar, and biomass for energy generation projects.

The East African country is striving to increase its electricity generating capacity from the current 4,200 MW to around 35,000 MW by 2037.