Lebanon’s Minister Walid Fayad Advocates Renewable Energy At World Energy Forum

Caretaker Minister of Energy and Water, Walid Fayad, participated in the 26th World Energy Forum held in Rotterdam, organized by the World Energy Council. The event attracted over 3,500 attendees, comprising government officials and industry figures.

Minister Fayad delivered a keynote address focusing on renewable energy in the Middle East and the Gulf region. He emphasized Lebanon’s dedication to renewable energy, noting that it contributes approximately a quarter of the nation’s total energy consumption.

Additionally, he highlighted the positive outcomes of Lebanon’s decision to remove subsidies on fuel and electricity tariffs, resulting in a 35% reduction in energy consumption and making solar energy the most cost-effective option in Lebanon.

Furthermore, Minister Fayad underscored the significance of regional and international collaborations in developing sustainable energy solutions, especially in securing funding for large-scale projects. He expressed optimism about Lebanon’s green hydrogen market, particularly in the industrial sector, with initial projects slated to commence soon.

Throughout the forum, Minister Fayad engaged in bilateral discussions with counterparts and industry leaders, including Dr. Mike Howard, the President of the World Energy Council. He also participated in several interviews with international television networks.