AG ENERGY, a privately-held Independent Power Producer (IPP) that focuses on developing and investing in renewable power generation facilities in Africa, has been issued an execution license for the construction of a 200 megawatts solar power plant in Ghadames/Ghadamis, an oasis Berber town in the Nalut District of the Tripolitania region in northwestern Libya.
The license was issued by Libya’s Privatization and Investment Board (PIB) which was founded to promote foreign and national capital to set up investment projects in various production and service sectors within the general policy framework of the North African country, and the social and economic development goals.
The board also supervises and implements the process necessary for the success of the investment projects in accordance with Law (No.9) and its executive regulation for promoting investment in Libya.
The first energy generation investment in Libya by the private sector
The project for the construction of the solar power plant in Ghadames is the first investment in the field of solar energy production in Libya by the private sector. It came following a meeting held in Tripoli between the PIB and General Electricity Company of Libya (GECOL) at the latter’s headquarters.
In the meeting, the two parties also agreed to form a joint working group that would supervise the implementation of the electricity sector plan, which according to PIB will cover the needs of conventional or renewable energies to be financed by the local and foreign private sector, between the year 2025 and 2030.
They also agreed to represent GECOL in the PIB’s investor services department Unified (one-stop) Window that includes several government departments, in a bid to ease the investment 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 to venture into the energy sector in Libya.