Lebanon’s new Minister of Energy and Water, Joe Saddi, outlined steps on how to rebuild his country’s faltering economy and energy industry during a candid and forward-looking conversation in the latest episode of the Al-Attiyah Foundation podcast.

In a wide-ranging interview, Mr Saddi, a former Chair of Strategy& Middle East and a veteran of major regional privatisation efforts, outlined Lebanon’s pressing energy challenges and the ambitious steps being taken to rebuild a fractured system. Speaking with host Nawied Jabarkhyl, the minister emphasised the need for institutional reform, transparency, and private-sector engagement to unlock investment and stabilise electricity supply.

“Lebanon has endured one of the most severe peacetime economic crises globally,” Mr Saddi said. “But for the first time since 2019, we have a glimmer of hope. There’s a path, a tough path, but nevertheless there is path that if we follow, we should be able to get through the thick of it.”

At the heart of this transformation is the country’s electricity sector, which has long suffered from decades of underinvestment, regulatory stagnation, and chronic outages. Mr Saddi described the absence of new power plant development over the last 15 years as a critical failure, compounded by ineffective governance. “Tens of billions of dollars were spent without a single new plant being built,” he stated.

To rebuild credibility, Mr Saddi is reviving long-dormant legislation, most notably Law 462, passed in 2002 but never implemented. This law calls for the unbundling of generation, transmission, and distribution, and the creation of an independent Electricity Regulatory Authority. He has prioritised the Authority’s establishment, receiving over 340 applications for its five positions in a matter of weeks—signaling renewed public trust in energy sector reform.

The minister also spoke of major infrastructure upgrades, including the construction of at least one new power plant and modernisation of the national transmission grid, envisioning financing these initiatives through international and domestic private partnerships.

Renewables are also central to Lebanon’s energy vision. Mr Saddi highlighted the untapped potential of solar energy and the pivotal role of regulatory reform in enabling utility-scale projects. “The next step is scaling up with large, grid-integrated projects,” he said.

Natural gas will also play a critical role in the energy transition. He confirmed efforts to secure floating storage and regasification units (FSRUs) and re-engage with regional pipeline infrastructure, while continuing exploration partnerships with companies such as TotalEnergies and QatarEnergy.

Asked why investors should place faith in Lebanon now, Mr Saddi pointed to a change in mindset: “Lebanon is back in a sense. The trust in the current government is the highest that it has been for the last 30 or 40 years in Lebanon. The wave of reform that is coming is inescapable; there is no other path that is open to the Lebanese. One of the first things I said when I took this role is that politics must be removed from the electricity sector which has been plagued be political dealings.”

To listen to the full conversation, visit the Al-Attiyah Foundation’s website: https://www.abhafoundation.org