W Solar Investment, a subsidiary of UAE’s Alpha Dhabi, signed Monday a memorandum of understanding with the General Electricity Company of Libya (GECOL) to develop a long-term partnership in Libya’s renewable energy sector, Zawya reports. W Solar will own and operate the project for 25 years from the start of production. The deal is important to the “economic reform” of Libya’s renewable energy sector. “The Libyan government has been showing a serious intention to develop renewable energy,” said Weam Elabdelie, Chairman of Board of Directors at GECOL. Libya seeks to generate 22 percent of electricity from renewable energy by 2030.

Source: Libya Today June 27, 2022 13:13 UTC