Growing international interest in Libya renewables.

TBEA is an international service provider of system solutions for the global energy industry. It is also a leading provider of solar photovoltaic (SPV) systems and wind power projects.

The meeting between REAoL and TBEA’s executive vice president took place in Tripoli and included a company presentation outlining TBEA’s most important projects.

TBEA is active in China as well as across other parts of Asia and Africa. Last summer the company helped put into operation the world’s largest and highest altitude solar-hydro project in China.

This is a noteworthy development for Libya’s renewables sector. China has quickly become a leader in renewable energy. Wind and solar energy are expected to overtake coal in the country’s electricity production capacity for the first time in 2024 according to forecast made by the China Electricity Council (CEC).

A report by the International Energy Agency published in January found that China had commissioned as much SPV in 2023, as the whole world did the previous year. As well as doubling its solar capacity in 2023, it also witnessed a 66% increase in wind power from the preceding year.

COP28 held in Dubai last year saw governments commit to a pledge to triple renewable energy capacity by 2030 and transition away from fossil fuels in energy systems.

Libya too made some bold environmental announcements at COP28, with the launch of the National Oil Corporation’s (NOC) ‘Think Tomorrow’ initiative, aimed at embracing a green and sustainable future in Libya through eco-friendly measures. These include harnessing 3,200 hours of sunlight with a view to making Libya a leader in solar energy.

In addition, in December Libya initiated the National Strategy for Renewable Energies and Energy Efficiency 2023 – 2035, outlining plans to achieve 4 GW of combined solar and wind capacity by 2035.

This latest meeting comes in the wake of growing international interest in the Libyan renewables, which thanks to its prime geographical location has the potential to become a major supplier of renewable energy.

“China is one of the world’s largest renewable energy markets, and it is encouraging to see these latest developments,” said Tarek Eltumi, founder and partner at Eltumi Partners. “Energy security is a pressing issue globally, but it needs to be considered alongside net zero and energy transition policies. As a firm, we are ideally placed to provide support and advise businesses operating in the energy and infrastructure sectors.”