Lebanese energy storage industry customers

How does the Lebanese economy work?

The Lebanese economy has traditionally relied heavily on the service sector – focusing on banking, tourism, construction and real estate – and activities are mainly undertaken by private companies. Lebanon’s gross domestic product (GDP) was estimated at USD 53.6 billion (current USD) in 2017 (World Bank, 2019b).

How has the refugee crisis affected Lebanese electricity?

Impacts of regional crises: The Lebanese Crisis Response Plan (LCRP) 2017–2020 estimated that the refugee crisis has cut electricity availability by 500 MW – equivalent to approximately five hours of electricity per day – obliging the state to rely more on private generators, costing around USD 150 million USD (UNDP, 2016).

Is NEEREA a good investment for the Lebanese economy?

NEEREA has witnessed rapid growth and broad acceptance among the public, despite the barriers and instability in the energy sector. NEEREA loans are becoming increasingly popular products in the Lebanese banking sector, with more than 938 projects worth more than USD 560 million financed as of March 2019 (see Figure 25).

How will EDL help the Lebanese economy?

This increase in generation capacity will allow EDL to close the gap between electricity supply and demand, thereby reducing dependency on private generators by 2020, reducing the electricity bill for consumers and supporting the Lebanese economy by providing a reliable, low-cost electricity supply.

Does the Lebanese grid have a high frequency instability?

In 2017, the UNDP CEDRO project developed a wind grid interconnection guide for Lebanon (CEDRO, 2017), in which frequency readings of the Lebanese grid were published. These readings showed very high instabilities not only on the lower end where it reached 48 Hz but also on the higher end of the spectrum where it reached close to 52 Hz.

Can Lebanese commercial banks finance NEEREA projects?

As per Intermediate Circular 236, Lebanese commercial banks can free some of their required reserves at the central bank to finance NEEREA projects. Following Circular 236, the sustainability of the NEEREA financing mechanism was further secured by circulars 313, 318, 346 and 515, among others.