Ethiopian Electric Power Reports Record 39.5 Billion Birr Net Profit

Ethiopian Electric Power (EEP) announced its annual performance report, revealing a total revenue of 124.2 billion Birr and a net profit of 39.5 billion Birr for the fiscal year. CEO Engineer Ashebir Balcha highlighted that this net profit is the highest in the institution's history, achieving 91.88% of its overall planned targets. Currently, EEP operates 21 power generating stations with a total generation capacity of 9,730 megawatts, comprising 15 hydroelectric stations (9,201 MW), 5 wind farms (504 MW), and 1 geothermal plant (25 MW). Hydroelectric power accounts for 95% of total production, with the remaining 5% sourced from wind energy. Of the total electricity produced, 93.5% is utilized for domestic consumption, while 6.5% is exported to neighboring countries. EEP also disclosed that its total assets have reached 900.54 billion Birr, with authorized capital standing at 1.3 trillion Birr and paid-up capital at 585 billion Birr.