The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with the Government of Lebanon to provide advisory services for structuring and implementing a gas-to-power project under a public-private partnership (PPP) model.

Under the agreement, IFC will act as lead transaction advisor in coordination with the World Bank’s International Bank for Reconstruction and Development (IBRD), Lebanon’s High Council for Privatisation and PPPs, and the Ministry of Energy and Water.

The project includes the development of a floating storage and regasification unit (FSRU) to import, store, and convert liquefied natural gas (LNG) into fuel; modernisation of the existing 465 MW Deir Ammar I power plant into a cleaner, higher-capacity Independent Power Producer (IPP); and construction of a new 825 MW combined-cycle gas turbine (CCGT) plant, Deir Ammar II.

IFC said the initiative will expand access to reliable electricity, support Lebanon’s transition toward cleaner energy, improve efficiency in the power sector, reduce reliance on diesel, and lower generation costs.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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