Coral is expanding its investment in Lebanon’s energy transition through Cnergies, its dedicated energy services company, which develops renewable power solutions for businesses and local communities.
Cnergies addresses one of the main barriers to renewable energy adoption: financing. By investing directly in renewable infrastructure and offering long-term Power Purchase Agreements (PPAs), the company enables clients to access solar electricity at competitive rates without upfront capital expenditure.
“Cnergies is not an initiative operating alongside Coral; it is an expression of where Coral is going,” said Oscar Yamin, Chairman and CEO of Coral. “After more than a century of serving Lebanon’s energy needs, our responsibility is also to help shape the country’s energy future.”
The model is already being implemented through a project at Khoury General Hospital in Zahle, delivered with Earth Technologies. Cnergies develops projects with experienced Lebanese partners, within the evolving regulatory framework and in coordination with the relevant public authorities.
The approach is designed for use across sectors and regions. Clients can benefit from cleaner electricity and lower energy costs, while Lebanese engineering partners gain opportunities to develop projects at scale. The projects can also help reduce dependence on costly conventional generation.
Through Cnergies, Coral aims to help translate Lebanon’s renewable energy potential into operational projects.
