Caretaker Minister of Energy and Water, Dr. Walid Fayyad, on Wednesday inaugurated the national workshop on “Launching the Renewable Energy Certification Mechanism” known internationally as ‘I-REC certificates’. The workshop was organized by the United Nations Development Program in Lebanon at the Movenpick Hotel – Beirut. In his address, Minister Fayyad stressed the need to make maximum use of the financial returns that can be secured through I-REC certificates, within the domain of renewable energy projects in Lebanon. In this context, Minister Fayyad pointed to the flourishing development of renewable energy projects in Lebanon, mostly solar energy. He further affirmed that the Ministry of Energy would continue to work with the House Parliament to approve the distributed renewable energy law, which opens the door to more large-scale renewable energy projects and is considered the most likely to benefit from the revenues of the I-REC certificate. Minister Fayyad finally clarified ‘the importance of preserving a minimum level of fossil energy sources to secure balance within Electricite du Liban’s network (EDL), which allows linking existing solar energy projects to the national power grid and linking any future projects in this field.”
Source: National News Agency – Lebanon