[ACCI-CAVIE] Commercial solar solutions company, AG Energy, has secured a license for the construction of a 200MW solar photovoltaic power project in Libya. Situated in Ghadames in the north-western region of Libya, the project represents the first solar investment in Libya by the private sector.
Issued by Libya’s Privatization and Investment Board (PIB) – established with the aim of promoting foreign and national capital in key projects – the license will enable the expansion of electricity access as well as the scaling up of renewable energy power generation. In addition to marking a significant milestone in the country’s ambitions to expand solar development across the country, the project further reaffirms that Libya is officially open for investment.
The license award followed a meeting held between the PIB and the General Electricity Company of Libya (GECOL), where the parties also agreed on the establishment of a joint company to enhance renewable developments. The company will be responsible for overseeing the implementation of the electricity plan (2025-2030) – which aims to accelerate electrification with power derived from renewable energy sources.
As Libya moves to exploit its significant renewable energy potential, projects such as AG Energy’s will be instrumental in the development of the clean energy sector.
By Charné Hundermark