- AG Energy and GECOL sign PPA for solar development in Libya
- GECOL approved the first solar plant located 650 kilometres from Tripoli
- Libya lags behind its North African neighbours in renewable energy development.
AG Energy, an independent power producer (IPP) based in Dublin, Ireland, has signed a power purchase agreement (PPA) with the General Electricity Company of Libya (GECOL). The two parties’ agreement should allow for further development of the project, aiming for an installed capacity of 200MWp. The solar power plant, located 650km from Tripoli, was first approved in January 2022 by GECOL and the Libyan Privatisation and Investment Council.
Lybia is looking to diversify its energy mix. W Solar Investment, an Alpha Dhabi Holding investment company, agreed with GECOL a few weeks ago to develop 2,000MW of installed solar capacity in several phases, the first of which will be 500MW. W Solar Investment, an Alpha Dhabi Holding investment company, agreed with GECOL a few weeks ago to develop 2,000MW of installed solar capacity in several phases, the first of which will be 500MW. These investments are being made in the context of the resurgence of load shedding. Furthermore, a prolonged power outage during the Tabaski holiday sparked protests, particularly in Tobruk.
Despite its high potential, Libya lags behind its North African neighbours in renewable energy development. This is due, in part, to a lack of reforms to attract private investment. However, in January 2022, the Libyan Privatisation and Investment Council and GECOL agreed to form a working group to implement the 2025-2030 electricity sector plan.