Image: Iraq Ministry of Energy
The Miami -based project developer UGT Renewables is planning to build a 3 GW solar park in Iraq.
The company signed an agreement with the Iraqi government for the project in May and met Minister of Electricity Ziyad Ali Fadel earlier this week. A statement from the minister said that the meeting, who also included the British ambassador in Iraq Irfan Siddiq, focused on the implementation of the agreement and the strengthening of cooperation in solar energy projects.
According to the agreement, the 3 GW solar project up to 500 MWh of energy storage and 1,000 km HVDC transmissive lines. It will also contain a two -year program for technology transfer, training and operations and maintenance.
The project is supported by the export import bank of the United States and the British export financing. JP Morgan serves as a lead bank. Project time lines and sitle locations have not yet been announced.
The cumulative solar capacity of Iraq was 42 MW at the end of 2024, according to the International Renewable Energy Agency (Irena). The country has set an objective of 12 GW Solar by 2030.
In May the first village of Iraq started working on solar energy.
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