John Green (for allAfrica)
State-owned electricity producer, Ethiopian Electric Power Corporation (EEPCo) has announced that it has earned $28.4 million from exporting of electricity to Sudan and Djibouti
The figures covering between June and October this year show that the country earned $10.9 million from Sudan and $17.5 million from Djibouti.
Ethiopia had earned $37 million in the first nine months of the last fiscal year, after exporting 190MW of power.
Analysts believe predict that Ethiopia’s economy has the potential to produce 45,000 MW.
The country – seeking to become the continents manufacturing hub – has taken initiatives towards being a reliable energy exporter to its neighbouring countries which will increase Ethiopia’s export earnings and boost economic growth.
The $4.1 billion Grand Ethiopian Renaissance Dam (GERD) to be completed in 2022 and the $1.8 billion Gilgel Gibe 3 will both boost generating capacity from 2,400 megawatts now to more than 10,000 megawatts upon completion.