Lebanon signs 11 solar PPAs, but financial closure remains challenging
- Admin
- Apr 26, 2024
- 1 min read
Lebanon's Ministry of Energy and Water signed 11 power purchase agreements (PPAs) for 165 MW of solar energy selected in a PV tender. The PPAs spread across four main regions: Bekaa, Mount Lebanon, South, and North. Different tariffs were negotiated for each region, with Bekaa receiving $0.057/kWh and the other regions receiving $0.0627/kWh for 25 years. The lengthy tender process was due to Lebanon's financial and political crisis. The European Bank for Reconstruction and Development (EBRD) mentioned the importance of structural reforms for international debt financing. Lebanon aims to source 30% of its energy from renewable sources by 2030.
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