In a recent visit to Brussels, the Libyan Minister for Electricity and Renewable Energy Ali Mohamed Mihirig touted his country’s potential as a producer of solar and wind energy. Libya’s post-revolution government, though young and somewhat lacking in capacity, is already looking forward to the day the country’s vast oil reserves run out.
However, he also noted its operating limits. “We are still behind on legislation and regulation. Electricity was a government monopoly for a long time,” the minister said. “We hope to have a national energy authority by the end of the year and we are sure that we will have the EU’s help in this regard”.Mirihig said that the Libyan desert held enough renewable energy potential to meet all of Europe’s energy requirements and stressed the country’s desire to cooperate with other nations.
Libya’s eagerness to attract foreign partners and the fact that it has plenty of money to invest in its own development make it a more attractive option for foreign investors than some other countries in the region.