Masdar signs strategic deal with Iraq for 2GW solar projects

Masdar signs strategic deal with Iraq for 2GW solar projects

Masdar, a subsidiary of Mubadala Investment Company and one of the world's leading renewable energy companies, has announced a strategic agreement with Iraq to develop solar photovoltaic (PV) projects in the country with a minimum total capacity of 2GW (gigawatts).

 

Iraq, the second-largest oil producer in the Organisation of Petroleum Exporting Countries (Opec) group, is looking to increase the percentage of renewables in its total power production capacity by the end of this decade to address supply issues and meet climate objectives. 

 

Iraq, which this year ratified the Paris Agreement on climate change, enjoys some of the most attractive solar irradiation levels in the region.

 

The agreement was signed at a virtual ceremony by Majid A. Hantosh, Iraqi Minister of Electricity; Suha Al Najar, President of the National Investment Commission of Iraq and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.

 

The signing took place in the presence of Iraqi Oil Minister Ihsan Abdul Jabbar Ismail; UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei and UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi and other officials.

 

Commenting on the agreement, Ismail said: "The Iraqi government intends to increase and enhance the national production of clean energy.