Two agreements for solar energy production in Libya have been signed between the government of Libya and TotalEnergies SE, a French, multinational, integrated broad energy company and one of the six largest oil and gas companies in the world.
The agreements were signed during the occasion of the inaugural day of the Libya Energy & Economic summit 2021.
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Overview of the agreements for solar energy production in Libya
As per the first agreement, signed with the government of national unity, TotalEnergies will work on the development of solar projects in the North African country, and it will invest in projects reducing gas flaring in oil fields in order to supply gas to power plants.
The second agreement, signed between the French energy company represented by its CEO, Patrick Pouyanné, and the Libyan public electricity company, General Electricity Company of Libya (GECOL), aims to develop 500 MW of solar energy, intended to supply the national grid.
An important step for Libya towards electricity security
According to Wiam Al-Abdali, the director of Gecol, these agreements mark an important step for Libya, whose demand for energy is increasing rapidly beyond the world average, a demand that will grow, as the North African country is emerging from the war advances towards industrialization and production.
“Anticipating this increase, the country aims to double its electricity production capacity from 8,000 MW to 16,000 MW by 2030”, said Mr. Al-Abdali.
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