Billions in Investment Needed for Renewables

Electricity Minister Ali Muhairig has said the demand for electricity in Libya was over 6,000 MW and that renewable energy’s contribution was at best going to be about 54 MW.

But according to Libya Herald, he said there was a role for renewable energy in helping solve the power cuts currently hitting north western and southern Libya, adding that this is too little, in the very short term, to solve the current peak summer demand.

He also revealed that there was a 14 MW renewable energy project starting operation in Houn soon, and a 40 MW project starting in Sabha.

When the electricity supply is stabilized, he said, then we can move on to renewables, he added.

The Minister, nevertheless, stressed that Libya had huge potential in this field, but it needed billions’ worth of investment.

He speculated that the Libyan public budget might not in the short term be able to fulfill this need for investment, and that foreign investors were ready to participate.

(Source: Libya Herald)

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