Greek Firm METKA, part of the quoted Mytilineos group run by Evangelos Mytilineos, signed a deal in Athens on January 28 for three gas turbines and associated equipment including substations to be built in Tobruk. This is the first of three turbines set to be built within an 11 -month period and an estimated cost of $380 million.
Strangely enough, METKA said the deal was not signed by state electricity company GECOL, but by General Authority for Electricity and Renewable Energy of Libya (GAEREL). Details at this time regarding the transaction and companies involved remain unclear.
The Greek Construction Firm whose company site boasts building the velodrom for the 2004 Olympics as well as other power plants and solar projects, says the Tobruk contract needs final approval from the interim government in Beida. Last October, Prime Minister Abdullah Al-Thinni announced an agreement with Greek investors to develop solar power in Libya.