Lebanon Businessnews News

Wind power generation to be launched in June 2020
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The Ministry of Energy and Water has agreed with the three companies in charge of building wind farms on a timeline for the project’s construction and development.

The three companies are Hawa Akkar, Sustainable Akkar, and Lebanon Wind Power. The project entails the construction of three wind farms for the production of 200 megawatts (MW) of power in Akkar. The farms will be linked to the national power grid.

The companies have 36 months for project completion, ending in February 2021, according to Jules Assi, project coordinator at Sustainable Akkar.

They agreed to start construction in March 2019. “We expect to start generating electricity in June 2020, eight months before the deadline,” he said.

Companies had been renegotiating prices with the ministry. They agreed to charge 10.45 cents per kilowatt hour in the first three years, and 9.6 cents as of the fourth year towards the contract’s end.

The contract term is over 20 years.

Hawa Akkar will launch a tender for interested contractors at the end of July or early August.

It will take out a loan either from the International Finance Corporation (IFC) or the European Bank for Reconstruction and Development (EBRD), to be repaid over a period of 14 years.

This is the first Power Purchase Agreement between the public and private sectors. It was signed last February.
Reported by Yassmine Alieh
Date Posted: Jul 17, 2018
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