The Ministry of Agriculture and Livestock reported last Tuesday (3 February) that its Undersecretary, Mohammed Al-Turki, chaired an expanded meeting on the same day in Tripoli to discuss the integration of solar energy solutions into agricultural projects.
This initiative aligns with the government’s strategy to utilize renewable energy in the agricultural sector.
Turkish and Chinese companies
The meeting included representatives from international companies specializing in clean energy and solar energy solutions, namely the Turkish company Felix, the Chinese companies Veichi and TW Solar, as well as the Director General of the Renewable Energy Holding Company, and representatives from Sahara Bank, Andalus Bank, Al-Yaqeen Bank, and the National Commercial Bank.
PPP
Representatives from national companies, farm owners, and agricultural projects also participated in the meeting, within the framework of joint coordination between the public and private sectors.
Integrating solar solutions into agricultural projects with Sharia-compliant financing mechanisms
The meeting addressed prospects for cooperation in integrating solar energy solutions into agricultural projects, and explored Sharia-compliant financing mechanisms, primarily the Murabaha structure. This would enable farmers and agricultural project owners to benefit from these technological and financial solutions, contributing to reduced production costs and enhanced sustainability.
A joint working group formed to develop an implementation plan
At the conclusion of the meeting, it was agreed to form a joint working group comprising representatives from the Ministry, banks, and relevant international and national companies.
This group will study the technical, financial, and regulatory aspects and develop a clear implementation plan for this cooperation. It will pave the way for practical implementation that serves the goals of sustainable agricultural development and the transition to clean energy.
