Ethiopia is betting on the Grand Ethiopian Renaissance Dam.

   The Grand Ethiopian Renaissance Dam                                                                                                

On the cusp of unprecedented wealth... Ethiopia is betting on the Grand Ethiopian Renaissance Dam

Ethiopia expects the Grand Ethiopian Renaissance Dam, which it built on the Blue Nile and is scheduled to be operational this September, to generate $1 billion in annual revenue, according to Prime Minister Abiy Ahmed. The Grand Ethiopian Renaissance Dam (GERD), which has sparked tensions with Egypt and Sudan, was launched in 2011 with a budget of $4 billion. It is the largest hydroelectric project in Africa, measuring 1.8 kilometers wide and 145 meters high.

Addis Ababa considers the dam essential to its electricity supply program. It has a capacity of 74 billion cubic meters of water and is capable of generating more than 5,000 megawatts of electricity, double Ethiopia's current production. "We expect $1 billion (in revenue) annually from this dam," Abiy Ahmed said in a televised interview with state media, stressing that these revenues will be invested "in other projects."

The Prime Minister indicated that Addis Ababa intends to implement "other projects, such as the Grand Ethiopian Renaissance Dam, within the next five, ten, or 15 years." Egypt and Sudan have previously expressed concern about the operation of the Grand Ethiopian Renaissance Dam without a tripartite agreement, fearing it would threaten both countries' access to the Nile waters. Negotiations have failed to achieve any significant progress.

Ahmed noted that "many of our friends have discussed, warned, and threatened" Ethiopia against operating the dam, stressing his country's desire that "the dam's construction not cause anxiety or fear" in Cairo and Khartoum. Ethiopia, located in East Africa, is the second most populous country on the continent, with a population of approximately 130 million, and its electricity needs are increasing.