The Ethiopian government said it earned some 5 billion Ethiopian birr (about 95 million U.S. dollars) from energy exports to neighboring countries during the Ethiopian 2021/22 fiscal year that ended on July 7. The earnings, a record high, were achieved through electric energy exports to Djibouti and Sudan, the state-run Ethiopian News Agency quoted Moges Mekonen, the communication director at Ethiopia Electric Power (EEP), as saying late Wednesday. According to data given by the EEP, the revenue was up 5 million U.S. dollars when compared with the previous fiscal year. The Ethiopian government in May announced its plan to increase the country's export revenue from electric power to 400 million U.S. dollars within the coming ten years.
The East African country is working to boost electric power export from the already functional and under-construction power plants to its neighboring African countries. 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 the country's priorities as it envisages becoming a light manufacturing hub in Africa and a middle-income economy within the coming few years. Ethiopia has identified hydro, wind, geothermal, solar, and biomass for energy generation projects.