By Sami Zaptia.
Tripoli, 24 January 2022:
Libya’s Privatisation and Investment Board (PIB) reported that it has made some progress in the energy generation investment by the private sector. This came after a meeting yesterday between the PIB and Libya’s monopoly state General Electricity Company of Libya (GECOL) in the former’s Tripoli headquarters.
Local and foreign private sector investment plan
During the meeting, it was agreed to form a joint working group between the PIB and GECOL to supervise the implementation of the electricity sector plan for the year 2025-2030. The PIB reported that the plan will cover the needs of conventional or renewable energies to be financed by the local and foreign private sector.
License for first private sector solar energy investment project issued
This meeting culminated in the issuance of the execution license for the first investment project in the field of solar energy production in favour of AG ENERGY company. The PIB reported that this will be an initial phase planned to produce 200 megawatts in the Ghadames municipality.
It was also agreed to represent GECOL in the PIB’s investor services department Unified (one-stop) Window. The one-stop window includes several government departments to ease the process for investors. It is hoped that the presence of GECOL at the one-stop window would make it easier for local and foreign private investors in the energy sector.
