Syria signs €6.2 billion power deal with Qatar’s UCC Holding-led consortium

• 7 days ago (2025-05-30)
• David Flin

Gas 421 Middle East 341 Solar 291

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Syria has signed an MOU with a consortium led by Qatar’s UCC Holding to develop major power generation projects with an investment of €6.2 billion.

The agreement involves construction of four 1000 MW CCGT power plants plus one 1000 MW solar power plant in southern Syria. Construction will start after final agreements and financial close. The CCGT power plants are due to be completed three years after the start of construction, and within two years for the solar plant. Once completed, the projects are expected to provide over 50 per cent of Syria’s electricity demand.

Ramez Al Khayyat, CEO of UCC Holding, said that the projects will be financed through regional and international banks, in addition to capital injection from the partners.

After 14 years of war, Syria’s electricity sector has been suffering from severe damage to its grid and power stations, aging infrastructure, and persistent fuel shortages, generating only 1.6 GW, down from 9.5 GW before 2011.