Addis Abeba — Ethiopian Electric Power (EEP) has announced plans to boost electric power export to neighboring countries and earn more revenue in the current fiscal year.

Last year, the country exported 1701 GW of electricity to three neighboring states namely Sudan, Kenya and Djibouti, and planned to increase the export amount to 2993 GW this year to earn 182 million USD, according to the EEP.

Furthermore, efforts are being made to export power to more foreign countries and talks are ongoing with Tanzania, Moges Mekonnen, Corporate Communication director of EEP told Ethiopian Press Agency (EPA). "If the agreements are completed as per the scheduled date, more electricity will be exported to Tanzania this fiscal year," he said.

Following a deal that was signed in November last year, Ethiopia has been exporting electricity to Kenya at 6.5 US cents per kilowatt, and in the eight months to August Ethiopia's export accounted for 70% of Kenya's nearly 600 GW of electric power import.

An agreement that will enable export of initial 100 MW of electricity after three years has been reached between Ethiopia and South Sudan in May last year. Somaliland, Rwanda and Burundi are other countries who have shown interest to import power from Ethiopia, according to EEP.

The power company has planned to increase its overall revenue including from domestic electricity sales and various services from 22.3 billion birr last year to 30 billion birr this fiscal year.