Saudi company ACWA Power Co (TADAWUL:2082) will build a 1-GW solar park in central Iraq, the Arab country's Electricity Minister Ziad Ali Fadhil said.
Fadhil, cited by Aliqtisad News, noted that the first clean energy project will be implemented in the Najaf Governorate by the Saudi company.
The Ministry of Electricity has overcome all obstacles in the project and allocated a plot of land in cooperation with the local government, the minister added.
More details about the project were not revealed.
Earlier this month, French energy major TotalEnergies SE unveiled a plan to invite the Riyadh-based company to take part in the development of a 1-GW solar project in Iraq. According to an earlier statement, the facility is planned to be set up near the city of Basra in the south.
The Iraqi government has recently made significant efforts to deploy solar energy across the country in response to the increasing demand for electricity. The major oil producer has signed pacts with international developers for several large-scale solar projects.
However, one of the major developers, Norway-based Scatec, announced this week that it has scrapped a plan to build and operate two solar plants with a combined capacity of 525 MW in southern Iraq. According to a government official, the reason for the withdrawal is the slow procedures at the ministry and the unclear legislation on solar energy.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.