The General Electricity Company of Libya has agreed contracts with the Egyptian Madkour company to implement three power generation plants with a total investment estimated at approximately 100 million euros, according to Bloomberg.
The production capacity of each station is about 220 megawatts, with a total capacity of 660 megawatts for the three stations, while implementation work will take about 18 months from the date of the contract.
Bahraini ABC Bank will participate in financing part of the investment cost of the three projects, whether through direct financing or issuing letters of guarantee in favour of the project.
The report says the projects come within Libya’s plans to add new capabilities to produce electricity, enhance grid stability, and strengthen the generation and transmission system in light of the increasing demand for energy.
Egypt to establish new electricity line to further supply Libya
in a related context, the report says Egypt is considering increasing the capacity of the electrical connection with Libya to about 2,000 megawatts by establishing a new electricity transmission line with a voltage of 500 kilovolts, with investments estimated at about 10 billion Egyptian pounds.
It will be recalled that Libya and Egypt are currently linked by an electrical interconnection line used to exchange energy between the two countries. Egypt resumed this year exporting electricity to Libya after widespread disturbances in the network and the exit of a number of generating stations and main transmission lines from service.