Energy Council Organizes Dialogue on Renewable Energy

On December 9th, the Libyan Council for Oil, Gas, and Renewable Energy organized a dialogue on the role of renewable energy in sustainable development. By encouraging the private sector to contribute to the spread of renewable energy, the dialogue also discussed the need for both the public and private sectors to utilize current law and legislation that promotes the sale and purchase of electricity in Libya. 

Participants in the dialogue focused on supporting private sector companies, in addition to exploring the creation of state mechanisms for reducing the cost of solar home systems for Libyan citizens. Also, participants discussed the importance of opening investment to clean energy and making such sources competitive to oil and gas, subsequently leading the country to less dependence on high carbon emitting energy.

In his opening speech, Dr. Khalid bin Othman, Head of the Libyan Council for Oil, Gas, and Renewable Energy, stated that this dialogue is the first free economic and political dialogue taking place in Libya, as it includes both the public and private sectors. He went on to highlight the topics of discussion for the dialogue, which will focus on renewable energy and its role in Libya. 

At the end of the dialogue, several recommendations were made by participants, which included the necessity of entering the banking lending system for solar energy systems - a partnership between companies and banks. Additionally, it was recommended that the Central Bank of Libya support private sector companies in the field of renewable energy and that the state draft laws on buying and selling renewable energy sources.