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Iraq Business
a day ago
- Business
- Iraq Business
UK-Iraq Solar Energy Partnership Advances with 3,000MW Project
By John Lee. Iraq's Minister of Electricity, Ziyad Ali Fadhil, met with UK Ambassador Irfan Siddiq and a high-level delegation to discuss British companies' role in implementing solar energy projects and reaffirm Iraq's commitment to the Paris Climate Agreement. The delegation included Lara Hampshire, UK Director of Trade in Iraq, and Yasmin Khan, Director of Operations and Energy Trade Adviser. Talks focused on the memorandum of understanding signed last month with the UGT Renewables, a UK-US company, to develop an integrated 3,000MW solar energy project in Iraq. The project includes battery storage systems with a capacity of up to 500MW and the construction of 1,000km of high-voltage direct current (HVDC) transmission lines to enhance grid efficiency and stability. Minister Fadhil emphasised the importance of this initiative for Iraq's national power system and praised the strong collaboration with the UK and reputable international firms. The executing company will also implement a two-year training programme and provide maintenance services using advanced D-EPC methods. Fadhil reaffirmed the government's goal of reducing carbon emissions from the energy sector, targeting 12,000MW of solar capacity by 2030 as part of its broader renewable energy strategy. The British delegation expressed their commitment to deepening the energy partnership with Iraq and contributing technical expertise to support sustainable development in the electricity sector. (Source: Ministry of Electricity)
Iraqi News
a day ago
- Business
- Iraqi News
UGT Renewables plans 3,000-megawatt solar energy project in Iraq
Baghdad ( – In a move to support Iraq's efforts to diversify its energy sources, UGT Renewables, a well-known supplier of renewable energy solutions, plans to establish a large solar energy project in Iraq with a capacity of 3,000 megawatts. The Iraqi Minister of Electricity, Ziyad Ali Fadel, met on Wednesday with the British Ambassador to Iraq, Irfan Siddiq, and other officials to discuss the details of the memorandum of understanding the Iraqi government signed last month with US-based UGT Renewables to build a 3,000-megawatt solar power plant in Iraq, according to a statement released by the Iraqi Electricity Ministry. The project includes the construction of energy storage systems with capacities of up to 500 megawatts, as well as 1,000 kilometers of high-voltage direct current (HVDC) transmission lines to improve the efficiency and stability of Iraq's electricity grid. Fadel clarified that the ministry aims to produce 12,000 megawatts of solar energy by 2030, in addition to developing different renewable energy projects that will help achieve sustainable development and environmental preservation. The officials who attended the meeting underlined their desire to expand their collaboration with Iraq, reaffirming their commitment to transferring experience and modern technologies while also contributing to the Iraqi electrical sector's long-term growth. In light of the country's growing need for power, the Iraqi government is taking measures to diversify its energy sources and attain sustainability in the energy industry. In 2023, the Iraqi Ministry of Electricity sought to sign contracts with big businesses, such as France-based TotalEnergies, to build a 1,000-megawatt power plant in Basra, and China-based PetroChina to develop another power plant in Muthanna with a capacity of 750 megawatts. The Iraqi cabinet has approved a plan to assign projects to specialized companies for the generation of 7,500 megawatts of solar energy by 2030. These initiatives are part of a broader national strategy that aims to produce a total of 12,000 megawatts of solar energy.
Zawya
30-05-2025
- Business
- Zawya
Iraq in advanced talks with Saudi's ACWA Power and UAE's Masdar for solar plants
Iraq's Ministry of Electricity announced on Thursday that it is close to finalising agreements with Saudi Arabia's ACWA Power and the UAE's Masdar to build solar power stations across the country. Speaking to the Iraqi News Agency (INA), ministry spokesperson Ahmed Musa said discussions are advancing with ACWA Power for a 1,000-megawatt (MW) solar power plant in Najafm and with Masdar to develop four solar power plants with a combined capacity of 1,000 MW. In March, Iraq started construction of its largest solar power project - the 1,000 MW Basra Sun. Musa said the talks are part of Iraq's broader strategy to diversify its energy sources and reduce dependency on imported gas, adding that the the OPEC member's power sector is currently facing a 4,000 MW deficit due to reduced gas imports from Iran, which resulted in the shutdown of several power generation units. Musa disclosed that 93 percent of the electricity interconnection project with GCCIA has been completed, and connections with Jordan and Turkey are already contributing to Iraq's grid. At the start of May, Iraq's Wasit province issued a tender for 3,000 MW of renewable energy projects. Prior to that, in April, the Iraqi government signed an agreement with US-based UGT Renewables for the development of a 3,000 MW solar power project coupled with a Battery Energy Storage System (BESS) providing 500 megawatt-hours (MWh). (Writing by Majda Muhsen; Editing by Anoop Menon)
Iraq Business
30-05-2025
- Business
- Iraq Business
Iraqi Cabinet Approves 2 Solar Energy Projects
By John Lee. The Iraqi Council of Ministers has approved key measures to advance major solar energy projects, reinforcing the country's push toward clean and sustainable power generation. Firstly, the cabinet approved a memorandum of understanding between the Ministry of Electricity and US-based UGT Renewables for the development of an integrated solar power project. The Ministries of Planning and Finance are tasked with aligning the project with national development priorities and allocating the necessary funding. The Minister of Electricity has been granted full authority to proceed with implementation. for the development of an integrated solar power project. The Ministries of Planning and Finance are tasked with aligning the project with national development priorities and allocating the necessary funding. The Minister of Electricity has been granted full authority to proceed with implementation. Secondly, the Council endorsed the Ministerial Council for Energy's recommendation on pricing and development costs for the 1000 MW Artawi Solar Power Plant, to be developed with France's TotalEnergies. The project is recognised as a strategic component of Iraq's clean energy agenda. The Ministry of Oil has been instructed to fulfil its payment obligations under the power purchase agreements, and the Director General of the State Company for Southern Electricity Production is authorised to sign the contract addendum with the French energy firm. These approvals mark a significant step in diversifying Iraq's energy sources and reducing its dependence on fossil fuels. (Source: PMO) Tags: Artawi, cg, clean energy, Electricity In Iraq, featured, Ministry of Electricity, Ratawi, solar energy, solar power, State Company for Southern Electricity Production, TotalEnergies, UGT Renewables, United States
Iraq Business
10-04-2025
- Business
- Iraq Business
Iraq signs MoUs for 27GW Electricity Projects with US Firms
By John Lee. Prime Minister Mohammed S. Al-Sudani oversaw the signing of three significant Memorandums of Understanding (MoUs) on Wednesday, two in the electricity sector and one to enhance commercial cooperation with the United States. The first MoU, signed with GE Vernova, outlines a strategic cooperation framework to develop combined-cycle gas power plants in Iraq, with a total capacity of approximately 24,000 megawatts-representing the most advanced electricity generation project in the country's history. The agreement includes plans for securing international financing from major global banks. A second MoU was signed between the Iraqi Ministry of Electricity and UGT Renewables to implement an integrated solar power project with a capacity of 3,000 megawatts. The project will also include battery energy storage of up to 500 megawatt-hours, modernization of the national grid, and the construction of 1,000 km of high-voltage direct current (HVDC) transmission infrastructure. Financing will be provided by the Export-Import Bank of the United States (EXIM), UK Export Finance (UKEF), and JP Morgan, the lead arranger. In a move to enhance commercial relations, a third MoU was signed between the Federation of Iraqi Chambers of Commerce and the U.S. Chamber of Commerce. The agreement comprises nine articles designed to expand institutional, commercial, and entrepreneurial collaboration, with a strong emphasis on supporting small and medium-sized enterprises (SMEs) in both countries. (Source: PMO) Tags: American Chamber of Commerce, cg, Export-Import Bank of the United States (EXIM), featured, Federation of Iraqi Chambers of Commerce, GE Vernova, JP Morgan, JPMorgan Chase, renewable energy, solar energy, solar power, UGT Renewables, UK Export Finance (UKEF), United Kingdom, United States, US Chamber of Commerce
