Libya Africa Investment Portfolio Partners with Gustaf Biofuel Additive Manufacturing Company to Produce Green Energy
The Libya Africa Investment Portfolio, which manages $5.3 billion, plans to partner with Gustaf Biofuel Additive Manufacturing Company on a large-scale project in the agriculture and industry sectors to produce classified green energy biofuels.
The idea is to focus on planting jatropha trees and building a refinery to produce biofuels by mixing jatropha oil with petroleum derivatives, increasing the economic value and competitiveness of Libyan oil on the global energy market, becoming a major competitor in renewable energy.
Establishing jatropha forests will act as carbon sinks, absorbing atmospheric carbon and reducing dependence on fossil fuels. This will be part of Libya's response to climate change and global warming. Jatropha roots stabilize the soil and prevent erosion, while fallen leaves contribute to increasing the soil's organic matter content, improving its fertility and water retention capacity.
Treated wastewater will be used in this cultivation, effectively eliminating one of the greatest threats to health and the environment. This project will also stimulate the progression of the rainfall line southward and increase precipitation rates, contributing to the fight against desertification.
The asset manager has reinforced its efforts to adopt a comprehensive sustainability concept, which goes beyond the economic perspective of achieving long-term sustainable returns, extending to the integration of environmental, social, and governance (ESG) principles throughout the investment process. It has committed to protecting natural resources and biodiversity by using environmentally friendly technologies, conducting feasibility studies to invest in renewable energy projects, and supporting energy efficiency efforts.
Economically, the project will enable Libya to benefit from environmental funds, green energy funds, the International Carbon Bank, and other organizations that support sustainable development projects. This will ultimately help save 25% of the value of fuel subsidies in Libya, reducing fuel consumption thanks to the additives provided by technical partner Gustaf.
Beyond biofuels, various parts of the jatropha tree can be used for other purposes, such as soap production, organic fertilizers, and livestock feed. Tripoli is thus poised to enter the era of clean fuels.