Share

Lebanon agrees deal for Turkish electricity boats

Turkish firm to lease two electricity generating boats to Lebanon

Share
Lebanon to cover electricity shortage with Turkish boats. (GETTY IMAGES)
Lebanon to cover electricity shortage with Turkish boats. (GETTY IMAGES)

The Lebanese cabinet is expected to this week agree to lease two Turkish electricity generating boats after agreeing savings of a reported $500 million from the original offer. Lebanon has agreed with the firm Karadeniz to take the two boats for a lease period of two years after agreeing a 9 percent reduction in the price and a shorter leasing period. The vessels have the capacity to produce 270MW of power, with the first boat set for delivery this summer.

Lebanon is currently producing around 1,500MW of electricity, some way short of its actual need of over 2,500MW. Energy minister Gibran Bassil has warned that such a state of affairs could lead to electricity rationing of over 13 hours each day over the summer if production is not increased. The boats are believed to be a temporary solution to this issue.

Newsletter

Most Popular