Ethiopia generates over $1 billion in electricity export revenue
Ethiopia has made over $1 billion in revenue from exporting electricity to neighbouring African countries.
Ethiopia’s Water and Energy Minister Habtamu Itefa has said that the East African nation generated over $1 billion in revenue from electric power exports to neighbouring African nations within 18 months.
The revenue was earned in the months leading up to the conclusion of the Ethiopian fiscal year in July 2023, the energy minister told the Ethiopian News Agency.
He revealed that the country was effectively delivering energy to Sudan, Djibouti, and Kenya, praising the crucial connection between the electricity systems of Ethiopia and Kenya, which opens up the possibility of exporting energy via the East African Power Pool to South Africa.
"Ethiopia is blessed and conveniently positioned to provide clean, inexpensive electricity without harming the environment, fueling escalating demand," he said.
While noting that 93% of Ethiopia’s electricity is generated by hydropower, he added that Ethiopia intends to expand exports to South Sudan.
Ethiopian Prime Minister Abiy Ahmed also announced in February that an agreement to provide electricity to Tanzania had been finalised as part of its efforts to contribute to regional integration.
The country is presently working on different hydroelectric power projects, such as the Grand Ethiopian Renaissance Dam (GERD), which is anticipated to produce over 6,000 megawatts of electricity once it’s fully operational.
