The Minister of Energy and Water, Walid Fayad, signed energy purchase contracts today, Friday, with representatives from 11 private sector companies to build solar power plants. This is based on a mandate from the Council of Ministers dated 12/5/2022. The private companies will construct 11 solar plants, each with a capacity of 15 megawatts. The production will be connected to the Electricité du Liban network and sold to the company at a price of 5.7 US cents per kilowatt-hour for solar power plants to be built in the Bekaa region, and 6.27 US cents per kilowatt-hour for those in other areas of Lebanon.
Fayad noted that signing the energy purchase contracts is a continuation of a long process initiated by the Ministry of Energy and Water approximately six years ago. He affirmed that the evaluation and selection of the companies during the various stages were carried out in full coordination with the Ministry of Finance and its representatives in the different committees.
He stated: "Our goal is to install 3,000 megawatts of solar farms and individual solar devices by 2030, and about 1,000 megawatts of wind farms, in addition to completing the development of the solar water heating market and the thermal pump market."
