EEP said the revenue was earned during the first nine months of the current Ethiopian Fiscal Year (EFY) 2021/2022, which started on July 8. EEP further disclosed that 37 million U.S. dollars were earned through sales of energy exports to neighboring Sudan and Djibouti, reported state affiliated media outlet Walta Media and Communication Corporate (WMCC). EEP plans to further boost its energy exports revenue in the near to medium future through energy sales to new customers which include South Sudan, Tanzania, Rwanda and Burundi.
The energy sector is one of Ethiopia’s priorities as the country envisages becoming a light manufacturing hub in Africa and middle-income economy by 2025. Ethiopia has identified the hydro, wind, geothermal, solar and biomass sectors 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.