The Marketing and Business Development department of Ethiopian Electric Power has announced that company is continually expanding its revenue streams.
Mr. Minilik Getahun, manager of the sales and customer management office, noted that previously, the institution’s income was primarily derived from energy sales and leasing fiber optics (OPGW).
However, Mr. Minilik highlighted that in the current fiscal year, the institution has diversified its income sources.
EEP now earns revenue from various services, including scorching solid waste from the Reppi Waste to energy power plant, conducting feasibility studies, and providing power to organizations engaged in data mining activities.
Furthermore, the company provides a service known as the “Anslery Service,” allowing organizations to lease space within the company’s compounds to host their servers alongside substations.
The manager highlighted that over the last nine months, the company has generated more than 756 million birr from new revenue streams introduced in the 2016 fiscal year.
This includes 555.5 million birr from data mining energy supply, 72.83 million birr from service fees for companies hosting servers at substations, 6.11 million birr from feasibility study fees, and 121.78 million birr from fees related to burning solid waste from the Reppi Power plant.
With the company diversification of income sources, its revenue has displayed consistent growth.
Mr. Minilik emphasized that during the nine months of the 2016 fiscal year, the institution earned over 20.28 billion birr.
He underscored that these new revenue streams are making a significant contribution to the company’s overall revenue growth.
The company is actively striving to introduce additional sources of income in the future.
As per the information gathered from the office, four out of twenty-five organizations that submitted requests for power purchase agreement to engage in data mining have commenced operations.
Moreover, nine organizations are collaborating with the company by installing their servers within the compounds of its substations.