The Ministry of Energy and Water secured a 25-year loan worth $85 million from the Kuwait Fund for Arab Economic Development. Partial proceeds of the loan will be used to restore the Zouk and Jiyeh power plants, with the intent of increasing their production capabilities by 272MW.
The restoration of the two power plants is only part of the Ministry’s plan aimed at guaranteeing round the clock electricity by 2015, which requires an increase of the current production levels by a total of 1,500MW.
Two power barges generating an approximate total of 275 MW of electricity have been hired from the Turkish Karkey Karadeniz Elektrik Uretim, with the first barge expected to arrive by the end of this month. In addition, the government is expected to discuss the bids for the construction of a new power plant to be built in Deir Ammar with an estimated production of 700MW
The Lebanon Brief – Blom Bank
11 February
