Lebanon took a significant step toward its energy transition on Tuesday, as Minister of Energy Joe Saddi signed power purchase agreements with Joe Dakak, managing director of CMA CGM in Lebanon and the Middle East. The contracts authorize Merit Invest, a subsidiary of the French shipping giant, to develop three solar farms with a total capacity of 45 megawatts.
The projects will be located In Mount Lebanon, the North and the Beqaa, and will be connected to the national grid of Electricity of Lebanon (EDL). Once operational, they are expected to generate enough electricity to power 22,000 households and reduce annual carbon emissions by 45,000 tons.
“Lebanon is blessed with abundant sunlight. Properly harnessed, this potential can increase electricity generation at a lower cost and without pollution,” Saddi said, noting that the agreed price of 5.7 to 6.27 cents per kilowatt-hour is far below EDL’s average production costs.
Dakak stressed that the initiative falls within CMA CGM’s global strategy to achieve carbon neutrality by 2050. While the group has pioneered the use of alternative marine fuels, he said that it also aims to expand investments in renewable energy on land in countries where it operates.
In addition to clean energy supply, the solar farms are expected to create local jobs, strengthen ties with municipalities and serve as platforms for training and innovation in renewable technologies.
According to Saddi, the agreements mark the ministry’s determination to foster public-private partnerships and accelerate the shift away from Lebanon’s reliance on aging, polluting power plants.
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