$1.6 billion in upcoming private investments in renewable energy

0 40
Reading Time: 2 minutes

The Ministry of Energy and Water (MoEW) launched an Expression of Interest (EoI) for three solar farms that will generate 70 to 100 megawatts (MW) each.

Each solar farm should have battery storage capacity of 70 Megawatt Hour (MWh). It is the first time such a requirement has been made.

The locations of the farms will be determined by the private sector contractors. Electricité du Liban (EDL) will buy the output according to a Power Purchase Agreement (PPA). The PPA that will be signed by the private solar power contractors will be based on the one signed by the three companies that were awarded contracts to build wind turbines in Akkar. The price of electricity generated by the solar farms and sold to the EDL will be negotiated at a later stage.

Yesterday the MoEW also launched another project to build 24 solar farms (without storage). Each farm should generate between ten and 15 MW, equally divided between regions. This project will be similar to one launched in 2016 when more than 170 companies expressed their interest, and 42 Requests for Proposals (RFPs) were put forth.

The Ministry also launched an EoI for hydropower stations that would generate four megawatts each, across all regions. The proposed hydropower stations should have a total combined generation of 300 MW.

The Ministry had already identified 32 potential sites for the generation of hydropower based on a master plan put together by international firms Sogreah and Artelia. The locations of the hydropower stations would also be determined by the private sector.

A deadline was also set for the EoI for 200-400 MW wind turbines. Companies have until April to present proposals. The wind project is similar to the one licensed last July by the Cabinet, when three companies were permitted to operate 200 MW wind turbines in Akkar.

The total size of investments in the new solar and hydropower projects is estimated at between $1.1 billion and $1.6 billion, according to the MoEW.

Source: Business News

Leave A Reply

Your email address will not be published.