Libya has set an ambitious target to source up to 20% of its electricity from renewable energy resources by 2035 through a strategy that has gained the support of global partners.
Established last October and announced earlier this month, the strategy is considered a strategic economic move by the government, as it serves to not only raise access to electricity but also alleviate fiscal stress. Currently, energy subsidies account for 30% of government spending annually.
The strategy will be undertaken with the support of the U.S. Agency for International Development, with the independent agency providing technical assistance to enhance transparency and service delivery across the North African country’s energy sector.
With substantial solar and wind power potential, Libya’s renewable wealth will enable the country to diversify its energy matrix and provide decentralized power solutions.
