TotalEnergies signed two separate agreements with Libya’s Government of National Unity and the General Electric Company of Libya (GECOL) during the inaugural Libya Energy & Economic Summit 2021 in Tripoli on Monday. The agreements aim to further consolidate TotalEnergies position in Libya’s renewable energy market while emphasizing the company’s commitment to the north-African nation.
During a dedicated signing ceremony on day one of the inaugural event, Patrick Pouyanné, CEO of TotalEnergies, signed an agreement with H.E. Ramadan Boujnah, Acting Prime Minister of Libya, for the development of solar projects in the country. The agreement is designed to strengthen the strategic partnership between TotalEnergies and the country, enabling the further development of Libya’s significant renewable energy resources. In addition to driving oil and gas developments, TotalEnergies is committed to enhancing its renewable energy portfolio, and thus, through expansion projects in Libya’s solar industry, the company is focused on driving the energy transition while increasing access to electricity in Libya.
Additionally, representing TotalEnergies, Pouyanné signed a Memorandum of Understanding (MoU) with Wiam Al-Abdali, Chairman of GECOL, for the development of solar projects across Libya. The agreement serves to ensure the development of 500MW of solar power in Libya, and is designed to supply electricity to the national grid. The MoU emphasizes TotalEnergies willingness to pursue investments in Libya, including those in solar, while increasing Libya’s access to a more reliable, cleaner, and affordable power supply. As Libya accelerates power generation projects with the aim of increasing access to electricity and boosting economic growth, the MoU marks a significant step in this quest.