BEIRUT, May 17 (Xinhua) -- More than 15 Chinese companies showcased their solar technology at the Lebanon International Solar Week 2024, highlighting China's growing interest in Lebanon's burgeoning solar market.
Companies displayed everything from solar panels to batteries and inverters, eager to establish connections with potential clients. Belinda Huang from Atess Power Technology cited Lebanon's electricity shortages and high power demand as reasons for the market's appeal.
"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, adding that her company's revenues from businesses in Lebanon amounted to 150 million U.S. dollars last year.
Adam Ho from Minghong Technology spoke of the decade-long presence of his company in Lebanon, highlighting an increase of 20 percent annually in local demand for the company's solar solution. "People struggle to access power," Ho explained, noting that the cost-efficiency of Chinese companies makes them more popular in the country.
Will Zhang with Chisage New Energy Technology, a solar inverter manufacturer, pointed to Lebanon's power outages and expensive generators as drivers of the increasing demand. He added that China's massive production capacity makes it a global leader in solar solutions.
Pierre el Khoury, the general director of the Lebanese Center of Energy Conservation, an official entity at the Ministry of Energy, told Xinhua on the sidelines of the exhibition that Lebanon's solar and renewable energy market has grown quickly over the past years due to the lack of stable power grid.
Khoury noted a rapid increase in the country's solar capacity, which reached 1,000 MW in June 2023 and is projected to exceed 1,500 MW by year's end.
"Most of the solar panels and batteries here are made in China, but there is competition from India, Italy, and Germany," he said.
Praising China's competitiveness in solar solutions, Lebanese Energy Minister Walid Fayyad called for deeper partnerships between Chinese and Lebanese companies in this area.
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