Data Hubs Fuel State Power Seller's Revenues Engine

May 25 , 2024


Ethiopian Electric Power (EEP) has garnered over half a billion Birr in revenues over the past nine months through power sales to data mining companies. While the initial announcement mentioned "data mining," EEP now clarifies they are targeting data centres, which encompass a wider range of computing services beyond cryptocurrency mining. Menelik Getahun, head of EEP's market development, emphasizes the importance of diversifying revenue. He said data centre sales complement EEP's traditional income sources like power sales and fibre optic rentals. EEP officials also earned 121.78 million Bt from the Reppie Waste-to-Energy Power Plant, showcasing alternative energy sources. They announced it would be selling energy to data mining companies a few months ago after several BitCoin miners showed interest in the vast hydropower resources of the country. Crypto mining is an energy-intensive process demanding amounts ranging from 10MW to 100MW. Ethiopia generates around 5,200MW of energy from hydroelectric sources, making it a lucrative source of cheap electric energy for miners, who are not welcome for long in most countries.


Radar

Parliament Nods Loan Agreement with South Sudan

In a parliamentary session last week, MPs approved a 738-million-dollar loan agreement with South Sudan. The federal body ratified the proposed bill which looks to establish road infrastructure linking the two countries. The project aims to create accessible transport routes that will enable trade, reduce logistical bottlenecks, and facilitate the movement of goods and people across borders. It is expected to be managed collaboratively, with the South Sudan Roads Authority overseeing activities...


Radar

AfCFTA Strides, National Implementations Fall Behind

The 15th Council of Ministers Meeting of the African Continental Free Trade Area (AfCFTA) convened in Addis Abeba last week, bringing together stakeholders to discuss boosting trade integration and sustainable development on the continent. The AfCFTA aims to transform small and fragmented markets into a single market of over 1.4 billion people, looking to ensure heightened growth and development. It will enhance Africa's collective bargaining power on the global stage and aligns with the commitm...


Radar

MOENCO Moves to Control BYD Ethiopia Presence

MOENCO, a subsidiary of Inchcape Plc, has partnered with BYD to become the official distributor of the latter's electric and hybrid vehicles in Ethiopia. This is Inchcape's third partnership with BYD, as the company already distributes BYD vehicles in Singapore, Belgium and Luxembourg. MOENCO will begin offering the vehicles in December 2024. The company stated it will provide comprehensive sales and after-sales support, including warranty, genuine spare parts, and quality maintenance. Moenco, o...


Back
WhatsApp
Telegram
Email