Ethiopian Electric Power Reports Record 75.4 Billion Birr Revenue as GERD Powers Energy Boom











Addis Ababa, August 1, 2025 (FMC) — The Ethiopian Electric Power (EEP) has reported a historic 75.4 billion birr (~$1.3 billion USD) in revenue for the 2017 Ethiopian fiscal year, driven by strong domestic consumption, increasing energy exports, and the accelerating output of the Grand Ethiopian Renaissance Dam (GERD).

In a press briefing held today at Skylight Hotel in Addis Ababa, CEO Engineer Ashebir Balcha (E/R) said the GERD has emerged as the largest single source of electricity and revenue for the company, generating 3,400 megawatts, which accounts for 33.2% of the national supply. The dam’s rising contribution marks a turning point in Ethiopia’s ambition to become a regional energy superpower—despite mounting diplomatic pressure.

“Following the announcement that the Grand Ethiopian Renaissance Dam will be inaugurated soon, Egypt is trying to create obstacles,” said Ashebir. “But nothing will change; it should be considered a dead end. Ethiopians are desperate to see the project, which is the second Adwa, come to fruition.”

⚡ Record Generation Surpasses Targets

EEP generated a total of 29,480 GWh of electricity in 2017, surpassing its target of 25,423 GWh.

Of the electricity generated:

93% was consumed domestically

7% was exported—primarily to Kenya (5%) and Djibouti (2%)

In total, the utility sold 25.18 TWh, capitalizing on the country’s growing energy demand and infrastructure improvements.

💸 Revenue Breakdown and Outlook

The 75.4 billion birr in total revenue came from:

74.05 billion birr: Power sales

1.41 billion birr: Related services

International power sales brought in $338.7 million, while the domestic market accounted for approximately 28.52 billion birr.

EEP also confirmed that it received $330 million in foreign exchange revenue in 2025 and aims to grow this to $427 million in the 2018 fiscal year.

🧠 Where the Power Goes

The internal distribution of electricity reveals how Ethiopia’s economic priorities are shifting:

The data mining sector, largely driven by Bitcoin operations, has emerged as a significant player in Ethiopia’s power economy. Though EEP did not disclose exact revenues from crypto operations, industry estimates suggest Bitcoin mining generated over $250 million USD last year, much of it in hard currency—a critical source of revenue for a country facing forex shortages.

🌊 GERD: Engine of Power and Sovereignty

The Grand Ethiopian Renaissance Dam has transformed from a national infrastructure project into a geopolitical flashpoint.

“Trump can say whatever he wants, but the truth is with us,” said Ashebir in response to past comments by former U.S. President Donald Trump opposing the GERD. “This dam is not just concrete and turbines—it is a symbol of sovereignty, resilience, and national unity.”

Despite not yet reaching full capacity, GERD currently generates 3,400 MW and is on track to exceed that as additional turbines become operational.

🛑 Challenges: Grid Theft and Security Concerns

While EEP’s performance exceeded expectations, the utility faces substantial operational challenges:

43 transmission lines were vandalized or stolen, disrupting service and costing millions

Ongoing conflicts in parts of the country have delayed grid expansion and maintenance

Aging infrastructure continues to strain service delivery in remote areas

“These are not just technical setbacks; they’re national issues,” said Ashebir, calling for stronger coordination between utility services and national security forces.

📈 Summary Table

🛰 Ethiopia’s Energy Diplomacy and the Road Ahead

As GERD nears full inauguration, Ethiopia is bracing for renewed external pressure—especially from Egypt, which fears the dam will reduce Nile water flow. However, EEP insists that technical facts and regional cooperation frameworks support Ethiopia’s position.

“The inauguration of GERD is not just about energy,” Ashebir emphasized. “It is about national destiny.”

Looking ahead, EEP aims to:

Expand power exports to Sudan, South Sudan, and East African neighbors

Finalize GERD’s construction and increase turbine output

Modernize transmission infrastructure and improve energy access

Ethiopia’s electricity sector is entering a new era, powered by GERD, bolstered by crypto-related demand, and guided by a clear vision of sovereignty and self-reliance—even as regional and technical headwinds persist.