Lebanons Renewable Energy law approved by Finance Committee

Lebanons Renewable Energy law approved by Finance Committee

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2023-05-29 | 10:17

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Lebanon's Renewable Energy law approved by Finance Committee

The Finance and Budget Committee, headed by MP Ibrahim Kanaan, has approved the Renewable Energy Law.

MP Kanaan is scheduled to hold a press conference in the press hall of the Parliament at 11:00 AM on Tuesday, May 30, 2023, to explain the details of the law, its reformative and financial significance, and how it contributes to securing electricity.

Adopting this law is crucial to Lebanon's commitment to securing 30 percent of its total electricity consumption from renewable energy sources by 2030.

Moreover, this law lays the foundation for enhancing distributed renewable energy production solely through implementing critical principles for project execution using net metering in all its forms, as well as direct power purchase agreements for renewable energy.

The committee meeting was attended by MP Kanaan, the caretaker ministers of Energy and Water, Walid Fayyad, Finance, Youssef Khalil, and the following MPs: Alain Aoun, Ihab Matar, Jihad Samad, Hassan Fadlallah, Ragy El Saad, Adnan Traboulsi, Ali Hassan Khalil, Ghada Ayoub, Ghazi Zaiter, Ghassan Hasbani, Michel Moawad, Fouad Makhzoumi, Yassine Yassine, Melhem Khalaf, Antoine Habchi, Simon Abi Ramia, Ibrahim Mneimneh, Taha Naji, MarK Daou, Firas Hamdan.

Also present were the Director General of Accounting at