Abu Dhabi Ports Group and Horizon inaugurated a shipping line linking the United Arab Emirates (UAE) and Libya.
According to the statement by the UAE Embassy in Libya, the two Emiratis companies are the exclusive agents for freight operations between Libya and the UAE. The Embassy congratulated the friendly State of Libya for that event.
Abu Dhabi Ports Company is based in capital of the UAE.
It is part of Abu Dhabi Developmental Holding Company (ADQ), one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy. AD Ports Group manages 11 ports and terminals in the UAE and Guinea.
The UAE seeks to enhance cooperation with Libya in the fields of maritime shipping, energy and others.
In June, the General Electricity Company of Libya (GECOL) signed a Memorandum of Understanding (MoU) with W Solar Investment to develop a strategic long-term partnership in the renewable energy sector in Libya, according to Emirates News Agency (WAM).
The Emirati firm will invest in the green energy sector in Libya by building solar photovoltaic power generation plants and selling the net delivered energy from the plants to the Libyan government.
The MoU is considered a significant business collaboration step between the public and private sectors in the green energy area.
GECOL’s Chairman, Weam Elabdelie, said the MoU with W Solar is important to the economic reform for the renewable energy sector in Libya.
The CEO of W Solar, Zafar Muhammad, said it is a landmark agreement for his firm. “We look to grow our operations in Africa and establish long-term relationships with key partners,” he explained.
The solar photovoltaic programme will be designed to produce 500 MW in its first phase with a long-term target of 2000 MW.
W Solar Investment will be owning and operating the project for 25 years from the start of production. By 2030, Libya aims for 22% of electricity generation to come from renewable energy.