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Mihiret to run power construction, Israeli company to take over distribution part
The Ethiopian Electric Power Corporation (EEPCo) is going to split into two independent entities, power investment and electric utility, in accordance with the new transformation plan, Capital learnt.
Sources told Capital that Israel Electric Corporation (IEC), which was selected by the board of directors of EEPCo among various undisclosed foreign based electric utilities, will take over the management of the electric utility that handles the operation, distribution and sales of electric power.
On the other hand the power investment body will be managed by the current Chief Executive Officer of EEPCo, Mihiret Debebe. Mihiret will oversee the large construction of electric power projects. “The power investment body will oversee the construction and transmission installation projects of all electric project whether hydropower, wind or geothermal,” sources said.
Source also indicated that officials of the Tel Aviv based corporation is expected to discuss the management transition with EEPCo officials and other relevant government officials in the coming few weeks.
Currently, Ethiopia is the biggest power exporter in the horn of Africa and is aiming to be one of the continent’s biggest exporters upon completion of the construction of several hydro power projects. The government is working on its ambitious plan to make the power sector one of the major export earners for the country, in the coming few years. The corporation ambitiously hopes to quintuple its production capacity from the current 2,000 megawatts to 10,000 megawatts by 2015. In addition to this plan the corporation has also revised its 25 year development goals so as to boost its generating capacity.
IEC is the main supplier of electrical power in Israel. IEC builds, maintains and operates power generation stations, sub-stations, as well as transmission and distribution networks.
The company is the sole integrated electric utility in the State of Israel and generates, transmits and distributes substantially all the electricity used in the country. The State of Israel owns approximately 99.85 percent of the company.
The IEC is one of the largest industrial companies in Israel, owning and operating an extensive nationwide power distribution network fed by 17 power station sites (including 5 major thermal power stations) with an aggregate installed generating capacity of 13,000MW.