Masdar Signs Deal to Install 2 GW of Solar Power Plants in Iraq
Abu-Dhabi-based solar energy specialist Masdar signed a deal last week to provide more than 2GW of photovoltaic projects in Iraq.
The projects will form part of Iraq’s plan to mitigate its chronic energy shortages and capitalise on its reliably sunny climate by installing up to 10GW of solar power projects by 2025.
The scheme also aims to reduce carbon emissions – the country this year ratified the 2015 Paris Agreement on climate change – and improve Iraqi understanding of the technology involved.
The plants will be situated in central and southern Iraq, and are expected to create around 2,000 jobs. They will be run on the independent power producer model, in which private companies build facilities and sell the energy, usually to a national utility.
The agreement was signed at an online ceremony by, among others, Majid Hantosh, Iraq’s minister of electricity, and Jameel Al Ramahi, the chief executive of Masdar.
Al Ramahi commented: “This agreement will define the path for the development of clean energy solutions that will drive growth in the Republic of Iraq and help the government meet its climate goals.
The UAE shares Iraq’s commitment to diversify away from a dependence on oil and gas, and to accelerate the transition to clean energy sources. We will leverage our expertise to deliver a more sustainable future for the nation.”
Masdar, a subsidiary of Mubadala Investment Company, has projects in more than 30 countries with a total value of more than $20bn and a generation capacity exceeding 11 gigawatts.
No value was given for the latest contract win.
Source: globalconstructionreview
