7. 5 gigawatt contracts already signed
OPEC oil maker Iraq plans to award more solar power projects to foreign corporations in 2023 with a combined generation capacity of only about 5,000 megawatts (MW), the country’s power minister said on Monday.
Adel Karim said the ministry has already finalized contracts with several foreigners to build solar power plants with a total generating capacity of 7,500 MW.
“The recently awarded projects were only one component of the first phase of the ministry’s comprehensive plan to increase reliance on renewable energy,” Karim was quoted as saying by Aliqtisad News and other Iraqi publications.
“There are plans to sign new contracts with several regional corporations to build more solar plants that will produce 5,000 MW. “
Karim did not mention the potential corporations that may be awarded such contracts, however, Iraq has signed multibillion-dollar deals with France’s Total Energy, Abu Dhabi-based Masdar and other corporations to build seven giant solar plants in parts of the country.
Located atop the world’s fifth-largest recoverable oil field, Iraq has set out to expand renewable energy production to 10 gigawatts (GW) by 2030.
According to official data, Iraq recently produces around 19,000 MW of electricity, but its actual needs are estimated at 30,000 MW.
Much of the shortage is covered by imports from neighboring Iran, while there are plans to unload more force materials through grid connections with neighboring Jordan and the Gulf.
(Written by Nadim Kawach; Edited by Anoop Menon)
(anoop. menon@lseg. com)
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