Sadi Signs Power Purchase Agreements for Two Solar Electricity Projects

As part of the ongoing effort to activate licensed renewable energy projects in Lebanon, Minister of Energy and Water Joe Sadi signed the Novated, Restated, and Amended Power Purchase Agreements (PPAs) with companies C.D.N and EONE to complete the necessary procedures for advancing their solar electricity production projects. These agreements fall under the eleven licenses granted for solar electricity production projects in 2022, which Sadi reactivated immediately upon assuming his duties.

Sadi affirmed that completing the signing of agreements for licensed projects constitutes a practical step toward transforming existing licenses into actual on-the-ground investments. He emphasized that the ministry will continue working to complete procedures related to the remaining projects, in parallel with ongoing reforms in the electricity sector and the preparation of the regulatory and institutional environment necessary to develop renewable energy projects and attract further investment.

This progress comes within the framework of continuous efforts to reactivate investments in the renewable energy electricity production sector and accelerate the transition of licensed projects from the legal and contractual framework to the actual implementation phase, contributing to increased production capacity, diversification of the energy mix, and reduced reliance on imported traditional energy sources.

These projects gain particular importance given the need to attract private sector investment in the electricity sector and enhance the role of renewable energy as a fundamental component of sector reform and improved energy security in Lebanon.