Lebanon boosts renewable energy with new solar power plant

Lebanon is set to benefit from a new solar power plant, which will be constructed in Kfifan, Batroun, and help provide electricity in Lebanon.

However, eleven companies have been awarded contracts to rent lands to construct facilities in multiple governorates.

Two hundred sixty-four companies participated in the tender, with the best three prices selected in each governorate. The eleven companies will provide a total of 165 megawatts of solar energy, which will be sold to the Electricité du Liban (EDL) at a rate of 5.7 cents per kilowatt-hour in the Bekaa region and 6.2 cents per kilowatt-hour in other parts of Lebanon.

Furthermore, the licenses were granted based on a proposal by the Energy and Finance Ministry and with the Cabinet’s approval a year ago.
On Friday, contracts were signed between Energy Minister Walid Fayyad and company representatives to purchase energy from the private sector.

According to the agreement, an international institution such as the World Bank or the European Central Bank (ECB) for reconstruction and development is expected to finance 75% of the construction process, provided the company will pay the remaining 25%.

However, international bodies are waiting for the implementation of reforms before providing any funding.

LBCI’s sources have also revealed that Total has offered to participate as an external financier.