Ethiopian Electric Power (EEP) has announced it earned USD 31.5 million from exporting electricity to neighboring countries during the first three months of the current fiscal year. The electricity was sold to Djibouti, Sudan, and Kenya, amounting to 497.8 gigawatt hours, with a revenue performance of 91.8% compared to the plan.
Ethiopian Electric Power (EEP) announced it has signed a framework agreement for the purchase of GIS Switchgears with the Chinese Company TBEA Co., Ltd. Inking the $16.4 million purchase agreement were Ashebir Balcha, EEP's CEO and David Hao, TBEA's representative.
Ethiopian Electric Power garnered USD 25 million from its electricity sales to data mining comapnies in the 2023/24 fiscal year.
Ethiopian Electric Power’s debt of 191.8 billion birr, which accounts for more than 50 percent of the amount it owes the state-owned Commercial Bank of Ethiopia, has been canceled and the amount added to the capital of the organization. The debt cancellation came following the government’s decision to cancel the debts of development organizations.
Ethiopian Electric Power (EEP) announced that it was on track to complete five key infrastructure projects, including power transmission and distribution stations, within the current fiscal year.
