The Iraqi cabinet has actually given the green light to a 750-MW solar project that Chinese state-owned conglomerate Power Construction Corp of China (Power China) is planning to construct in the south of the Arab country.
The solar park will certainly be situated in Al Muthanna Governorate and will require about USD 520 million (EUR 483.99 m) in financial investments, a spokesman for the Iraqi government claimed on Tuesday after a cabinet meeting headed by prime minister Mohammed Shiaa al-Sudani.
The project will certainly be implemented in two phases with the very first of them involving the release of 250 MW of solar panels.
Power China’s ambitions to enter the solar market in Iraq were introduced in 2021. The 750-MW project was after that said to be the initial phase of a plan to deploy a total of 2 GW in the Arab country.
The large-scale plan is one of 3 solar projects completing 2.75 GW in capacity that are expected to be put into operation in 2025. The other 2 campaigns consist of a 1-GW contract with UAE’s renewable energy company Masdar and a deal with TotalEnergies SE for a 1-GWp solar complicated.
Meanwhile, al-Sudani affirmed the government’s interest as well as continued commitment to purchasing renewable energy throughout a meeting with a delegation from International Renewable Energy Agency (IRENA) earlier today.