Ethiopian Electric Power generates over $25 million in revenue from data mining companies
Addis Abeba – Ethiopian Electric Power (EEP) announced that it generated over $25 million in revenue from electricity supplied to companies involved in data mining during the 2023/2024 fiscal year.
Minilik Getahun, Manager of Sales and Customer Management at EEP, stated that this revenue is part of EEP’s efforts to increase foreign currency earnings by selling electricity in U.S. dollars to domestic customers.
Minilik noted that since December 2022, nine companies engaged in data mining have been making payments in U.S. dollars, shifting from the previous practice of billing in Ethiopian Birr.
He also highlighted that EEP initially planned to supply 882.48 gigawatt-hours of electricity to these companies, with the goal of generating $27.71 million. However, due to various operational challenges, the actual supply reached 796.28 gigawatt-hours, resulting in over $25 million in revenue.
Despite falling short of the supply target, Minilik emphasized that the revenue achieved still represented more than 90% of the projected income. AS
