Ihsan Ismaael, Oil Minister of Iraq, said that the country has signed an agreement with UAE’s Masdar to develop 2 GW of renewable energy, as part of Iraq’s drive to develop 7.5 GW of renewable energy. He said that Masdar will develop 1 GW in phase 1, but he did not say when this phase was scheduled for completion.
Suhail al-Mazrouei, Energy Minister of the UAE, said that this deal will be a “long-term investment”, and will be the start of many more.
This follows several other recent agreements Iraq has made in respective of developing renewable energy. In September, Iraq signed $27 billion worth of deals with TotalEnergies that include building a 1 GW solar power plant. In addition, Iraq has also signed an initial agreement with PowerChina to develop up to 2 GW of solar power plants. PowerChina will develop 750 MW in Phase 1.