More than 15 Chinese companies showcased their advanced solar technologies at the Lebanon International Solar Week 2024, underscoring China’s keen interest in the country’s expanding solar market, reports Xinhua.
Exhibitors displayed a wide range of products, including solar panels, batteries, and inverters, aiming to forge connections with potential clients. Belinda Huang of Atess Power Technology highlighted Lebanon’s electricity shortages and high power demand as key factors attracting their business.
“The economic crisis and foreign currency shortage force Lebanese factories to turn to local production, causing a rise in demand for our power solutions,” said Huang. She added that her company earned 150 million U.S. dollars from Lebanese businesses last year.
Adam Ho from Minghong Technology noted his company’s decade-long presence in Lebanon, with local demand for their solar solutions increasing by 20 percent annually. “People struggle to access power,” Ho explained, emphasizing that the cost-efficiency of Chinese companies enhances their popularity in the West Asian country.
Will Zhang of Chisage New Energy Technology, a solar inverter manufacturer, pointed to Lebanon’s frequent power outages and reliance on expensive generators as drivers of the growing demand. He remarked that China’s vast production capacity solidifies its position as a global leader in solar solutions.
Pierre el Khoury, General Director of the Lebanese Center of Energy Conservation, a division of the Ministry of Energy, told Xinhua at the exhibition that Lebanon’s solar and renewable energy market has rapidly expanded in recent years due to an unstable power grid. He noted that the country’s solar capacity reached 1,000 MW in June 2023 and is projected to surpass 1,500 MW by the end of the year.
“Most of the solar panels and batteries here are made in China, but there is competition from India, Italy, and Germany,” Khoury said.
Lebanese Energy Minister Walid Fayyad praised China’s competitiveness in solar solutions and called for deeper partnerships between Chinese and Lebanese companies.
In related news, neighbouring Syria is also looking to develop its renewable energy sector amid sanctions, with China emerging as a likely candidate for collaboration.
