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Lebanon's renewable energy set to attract investments: report

15-02-2023 | 13:37

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Lebanon's renewable energy set to attract investments: report

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Caretaker Minister of Energy and Water in Lebanon Walid Fayyad has expressed during an interview with Attaqa, a platform specializing in energy news, that renewable energy is an integral part of solving the electricity problem. However, it is not sufficient on its own.

In his statement, Fayyad stressed the role of renewable energy, especially solar energy, in solving the electricity crisis in Lebanon.

He explained that it is necessary to increase the power supply from the existing power stations and bring it to a capacity of 1,000 megawatts, in addition to obtaining investments from the private sector to establish renewable energy plants.

Saying that talks with QatarEnergy and TotalEnergies have started "because they showed interest in this direction, and we seek to attract investments from the east and west, and China in particular, because it welcomed the matter."

Previously, QatarEnergy signed an agreement with TotalEnergies SE and Eni SpA to search for natural gas in Lebanese waters.

Caretaker Prime Minister Najib Mikati said that under this agreement, the Qatari company will hold 30 percent in blocks 9 and 4. While the French and Italian energy giants will each have 35 percent.

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