Dubai: QatarEnergy, petroleum company, and France’s TotalEnergies have signed a deal to develop a solar power plant as part of Iraq's gas growth integrated project (GGIP).
The two companies will share ownership of the project, pending regulatory approvals. Described as "one of the largest in the world", it will feature two million high-efficiency bifacial solar panels, generating up to 1.25 gigawatts (GW) for the Basra region's electricity grid, as reported by Reuters.
Once operational, the plant will provide power for 350,000 homes and will be developed in phases, with completion expected between 2025 and 2027.
In June 2023, QatarEnergy joined a consortium for the GGIP, holding a 25 per cent stake, while TotalEnergies has 45 per cent and Iraq’s Basra Oil Company has 30 per cent.
This initiative focuses on developing Iraq’s natural resources and capturing significant amounts of flared gas in the Basra area to supply power generation.
In February, Iraq's cabinet approved plans to install 12 GW of solar power by 2030, according to National Investment Commission representative Rahim Al Jaafari.
OPEC is the Organisation of the Petroleum Exporting Countries, which is a cartel enabling the co-operation of leading oil-producing and oil-dependent countries, second-largest crude oil producer after Saudi Arabia.
Iraq aims to generate around 10 GW of green energy by 2025, making up about a third of its electricity mix.
