Ethiopia Electric Power (EEP) has announced a robust financial performance for the last fiscal year, reporting a total revenue of 75.4 billion Birr. The state-owned enterprise attributes a significant portion of this success to the contribution of the Grand Ethiopian Renaissance Dam (GERD).

During a press briefing on the year-end results, EEP CEO Engineer Ashebir Balcha revealed that power sales accounted for the lion's share of the revenue, totaling 74.05 billion Birr, while 1.41 billion Birr was generated from other services.

According to Engineer Ashebir, the company's performance has shown marked improvement over the previous year, with the GERD playing a pivotal role. The dam is now generating 3,400 megawatts of power, which makes up 33.2% of the country's total electricity production.

The CEO highlighted key operational achievements:

Total power generation for the year reached 29.480 gigawatt-hours, a 16% increase.

Of the 25.18 terawatt-hours of energy sold, 93% was supplied to the domestic market, with 7% exported.

Power generation capacity has grown by 3,784 megawatts over the past six years, representing a 48% expansion.

Despite the positive results, Engineer Ashebir noted that the company faced significant challenges, including the theft of infrastructure, which led to the collapse of 43 electricity towers during the fiscal year.