Green Grid, PRISM, البنية التحتية, الكهرباء ومصادر الطاقة المتجددة, الملخص الاقتصادي

LIMS Urges a Switch Towards Private Renewable Energy to Preserve Foreign Exchange Reserves

10:54 | 30 نيسان 2024LIMS output
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Energy

In a high-profile announcement, the Minister of Energy declared the collection of $80 million worth of electricity bills. LIMS suggested that this move is a strategic attempt to exert pressure on the central bank. Electricité du Liban (EDL) typically relies on central bank funding for fuel rather than bill collections. The acting central bank governor has refused to lend money to the government, aiming to maintain currency stability but the energy minister seeks to overturn this policy. LIMS highlighted the lack of coordination between the Ministry of Energy and Water, the Ministry of Finance, and the central bank, which has hindered the Iraq fuel deal. Despite recent electricity price hikes, EDL remains far from achieving the promised eight hours of daily electricity supply by 2028.

Under program PRISM (Private Initiatives to Service Municipalities), LIMS underscores the importance of enabling the private sector to take the lead in supplying renewable energy at the local level, working hand in hand with municipalities. This strategy holds the potential to effectively tackle the persistent challenges associated with fuel procurement and payment in hard currency. Moreover, it promises to deliver a higher number of daily electricity hours compared to the current offerings by EDL. Toula’s solar farm stands as a successful example of enhancing local electricity production. The solar farm has improved power supply and reduced electricity bills.  Beyond electricity provision, this model of private sector involvement in service delivery at the municipal level holds broader applicability. For instance, it can be extended to encompass other essential services like waste management, underlining the potential for improvement and sustainable development within local communities.

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