Lebanon makes first deal to buy electricity| MENAFN.COM

Monday, 27 June 2022 08:20 GMT

Lebanon makes first deal to buy electricity


(MENAFN) Lebanon has inked its first purchase agreement for electricity from private companies, marking a step forward towards its international investment strengthening plan.

The deal holds a great significance seeing that the country is suffering from electricity shortage since its civil war, with houses seeing daily blackouts that last for three hours.

The International Monetary Fund has suggested improving the electricity sector in a step for reviving the country's anaemic economy.

Lebanon has made a deal under its first Power Purchase Agreement (PPA) to buy an overall of 200 megawatts (MW) from three Lebanese firms.

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