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.
Ethiopian Electric Power has inked a deal with the French General Electric and the Chinese Sinohydro companies to have a national power control center built.
Ethiopian Electric Power (EEP) has started the construction of a new headquarter building that will have 38 stories, including the basement floors. The new building will be constructed at a site around Mexico Square that is already in the premises of the company’s compound.
Ethiopian Electric Power (EEP) has confirmed that it is currently supplying 265 megawatts (MW) of electricity daily to Kenya under a power purchase agreement between the two nations. The Ethio-Kenya 500kV converter station plays a vital role in this regional energy export, facilitating power interconnection across East Africa.
