The initial budget in 2011 was 80 billion Br, but this figure swelled to a revised cost of 240 billion Br by 2024, a challenge that was exacerbated by currency depreciation and devaluation which saw the exchange rate increase almost ten-fold since the project began.
Beyond energy, the reservoir is expected to yield 10,000tn of fish annually and create 70 islands for tourism.
Ethiopian Electric Power (EEP) reported a record 75.4 billion Br in revenue, a threefold increase largely driven by the GERD, which contributed one third of the total electricity output.
In 2019, a decision was made to downsize the installed capacity from 6,450MW to 5,150MW by reducing the number of turbines from 16 to 13, a move intended to lower the unit cost without significantly impacting the dam's average annual energy output.
Last fiscal year, electricity exports generated 118 million dollars for the economy, with forecasts of 220 million dollars this year.
Its annual generation capacity is expected to reach 15,760GWh, supplying over half of the country’s current electricity demand and projected to cover nearly four-fifths within a decade.
The project’s total cost reached 240 billion Br, with the Commercial Bank of Ethiopia (CBE) financing over nine-tenths of the expenditure.
The Dam has an installed capacity of 5,150MW and a reservoir capable of holding 74 billion cubic metres of water.
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PUBLISHED ON
Sep 13,2025 [ VOL
26 , NO
1324]
Fortune News | Jun 14,2020
Commentaries | Jul 06,2019
Verbatim | May 24,2025
Agenda | Nov 16,2024
In-Picture | Oct 06,2024
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