Utilities Middle East reported that Libya is accelerating reforms and seeking to attract British companies to seize significant opportunities in exporting solar and wind energy to Europe.
Libya is intensifying efforts to draw British companies to invest in the renewable energy sector while implementing large-scale solar and wind projects aimed at supplying electricity to Europe.
According to The National, a new renewable energy bill—currently under review by the Tripoli Parliament—is expected to provide regulatory clarity that supports foreign investment. With high levels of solar radiation and strong coastal and mountainous winds, Libya sees great potential for producing clean energy for export.
This move comes as Libya works to modernize and unify its energy institutions. Earlier this year, it launched its first oil and gas licensing round in 18 years, signaling renewed activity in the sector.
According to The National, the head of the National Oil Corporation, Masoud Suleiman, announced last week a partnership with the Oxford Business Group to support upcoming bidding rounds and showcase Libya’s reforms to international investors. Suleiman said Libya’s goal is to establish an open and competitive market governed by clear rules to attract long-term investments.
Oliver Cornock, Global Editor of OBG, noted that efforts to rebuild institutions damaged by years of conflict are increasing investor confidence, adding that improvements in coordination and policy-making indicate Libya is “moving in the right direction,” despite ongoing challenges.
A delegation from the Libyan Renewable Energy Authority (REAOL) also participated in workshops in London last week with British companies in preparation for upcoming bids. Priority projects include a 50 MW solar plant in Bani Walid, a 200 MW solar plant near Ghadames, and a 200 MW wind farm in Kufra. The authority’s head, Abdelsalam Al-Ansari, said Libya hopes to export up to 2 GW of renewable energy to Europe, following promising talks with Italy, Malta, and Greece.
While officials focus on launching the first phase of projects, international banks have raised concerns over the lack of detailed financial frameworks. Sector officials believe clearer costs and stronger guarantees will be necessary for large-scale financing, while legal experts argue that Libya’s relatively “clean” regulatory record and old commercial laws could offer a unique opportunity for early investors.
These developments coincide with the UK, US, and other international partners welcoming the renewal of the UN political mandate in Libya and encouraging continued progress toward unifying economic and administrative institutions. Supporters of Libya believe ongoing reforms in the National Oil Corporation and the Central Bank of Libya could help stabilize the economy and support long-term investments in oil and renewable energy.
