May 13 (Renewables Now) – The Lebanese government has approved the issue of licenses for 11 solar projects each with a capacity of 15 MW, energy minister Walid Fayyad said on Thursday.
The licenses were granted to 11 local and international companies that have won competitions for new solar plants over the last few years. Now, these companies have a year to secure the necessary financing.
The cost of the electricity from those 11 solar plants will be USD 0.057 (EUR 0.055) per kWh in the Beqaa region and USD 0.063 per kWh for all other regions. For comparison, the cost of fossil energy is in the range of USD 0.010 and USD 0.015. The cost of solar power in Beqaa is lower because the area is plain, the minister explained.
Prior to granting the licenses, the government held talks with 12 companies but one company dropped out because it refused to provide the required guarantee.
Lebanon, which is suffering a power shortage, is pursuing the ambitious target to obtain 30% of its electricity supply from renewables by 2030.
(USD 1 = EUR 0.961)