We visited Liban Cables’ premises in Nahr Ibrahim following a formal invite to attend the inauguration of the Solar Power project we are financing through a NEEREA loan approved in November 2016.
The inauguration was held under the auspices of H.E Mr. Cesar Abi Khalil, Minister of Energy and Water, and H.E. Dr. Hussein Al Hajj Hassan, Minister of Industry, in the presence of Mr. Edgard Chehab, Assistant Resident Representative of the United Nations Development Programme (UNDP), of Dr. Fadi Gemayel, President of the Association of Lebanese Industrialists, represented by Mr. Georges Nasrawi, and of Mr. Bassem El-Hibri, Chairman and President of Liban Cables.
The 601 kilowatt-peak solar power plant was co-financed by the Global Environment Facility (GEF) and Liban Cables through the Central Bank’s NEEREA loan program, and implemented by the UNDP in partnership with the Ministry of Energy and Water.
The project consists of 1,908 solar (photovoltaic) panels generating approximately 938,000 kilowatt-hours per year, contributing to significant cost savings at Liban Cables, as well as a subsequent reduction of greenhouse gas emissions of 751 tons per year. This green energy will cover over 8% of the electricity needed by the plant to produce a wide range of building, industry and infrastructure cables.
Liban Cables’ plant is one of the biggest green energy projects in the country and the first one to be completed within the framework of the Small Decentralised Renewable Energy Power Generation (DREG) Project. The DREG project will cover a portion of the solar system’s cost through a grant by the GEF, while the remaining cost will be financed through the National Energy Efficiency and Renewable Energy Action program (NEEREA) set up by Banque Du Liban.
The event kicked off with speeches from the various attending dignitaries and the host; and followed by a walk-through in Liban Cables to observe the solar installation from the roof and receive a technical brief on the system and its performance to date.