Addis Ababa — Ethiopia's revenue from electricity exports to neighboring countries has doubled over the past five years, surging to 101.2 million USD last fiscal year from 50 million five years ago, according to the Ethiopian Electricity Power (EEP).

In the first quarter of the current Ethiopian fiscal year, the nation earned 21.4 million USD from electricity sales to Djibouti, Kenya, and Sudan.

For nine years, Ethiopia has been exporting electricity to Sudan and Djibouti. Exports to Kenya began in the middle of the last fiscal year.

"Our electricity exports have been growing annually," said EEA Director of Communications Moges Mekonnen.

"Five years ago, export revenues were around 50 million USD. Looking at the past three years, the revenue reached around 69 million USD. Two years ago , it was 95 million USD. Last year , sales reached 101.2 million USD."

Domestically, EEP earned 4.38 billion birr from electricity sales in the first quarter. Combined domestic and foreign electricity sales so far this fiscal year have reached about 80.3 percent of EEP's targets, Moges said.

Looking ahead, EEP aims to earn 150 million USD from electricity exports by the end of the current fiscal year. For domestic electricity sales, the target is 20.16 billion birr.

He noted that demand typically rises in the months from December to May, so performance in the remaining quarters will be key.

Ethiopia's electric export trade has been contributing to enhance the nation's economic relations with neighboring countries in addition to the foreign currency earnings.

The nation is currently generating more than 4,500MW of electric power and is expected to exponentially increase to 17,000MW in the coming years.