Ethio-Kenya Power Transmission Go Live


Ethio-Kenya Power Transmission Go Live

Ethiopia began selling electricity to Kenya last week, hoping to generate over 100 million dollars yearly, beefing up its foreign currency reserves. The 500Kv power substation was built for over half a billion dollars after securing finance from the African Development Bank (AfDB). The test work of power transmission on the lines was completed a week ago. China Electric Power Equipment & Technology (CEPET) completed the construction, while the German-owned Simens built the converter station and the ground electrode line. The extended transmission lines, as well as protection and data communication lines, travel for 440Km in Ethiopia over 994 towers. Managed by Asheber Balecha, EEP foresees transmitting up to 2,000Mw electric power to countries beyond Kenya, such as Tanzania and South Africa. The transmission line passes to Kenya through Wolayta, Gamo, and Konso zones in the Southern Regional State and the Borena zone in Oromia Regional State. The Ethiopian Electric Power (EEP) announced a few weeks ago that the project would begin after officials pledged to ensure security recurring thefts on power-carrying metal towers and optical ground fibre. Wolayta and Gamo zones were identified as the hotspots of the robbery, with nearly 10tns of iron bars stolen. Darmalo in the Konso zone, Adeyu Liyu, Chencha, and Derashe weredas have seen their share of rampant thefts on towers.Ethiopia sells electricity to Sudan and Djibouti, generating 95.4 million dollars last year. EEP signed a memorandum of understanding (MoU) with Somaliland, Tanzania and South Sudan. Ethiopia hopes to export electricity at 0.65 US cents for a kilowatt hour for the next five years, with a plan to renegotiate the tariff.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email