
Iraqi Cabinet Approves 2 Solar Energy Projects
The Iraqi Council of Ministers has approved key measures to advance major solar energy projects, reinforcing the country's push toward clean and sustainable power generation. Firstly, the cabinet approved a memorandum of understanding between the Ministry of Electricity and US-based UGT Renewables for the development of an integrated solar power project. The Ministries of Planning and Finance are tasked with aligning the project with national development priorities and allocating the necessary funding. The Minister of Electricity has been granted full authority to proceed with implementation.
for the development of an integrated solar power project. The Ministries of Planning and Finance are tasked with aligning the project with national development priorities and allocating the necessary funding. The Minister of Electricity has been granted full authority to proceed with implementation. Secondly, the Council endorsed the Ministerial Council for Energy's recommendation on pricing and development costs for the 1000 MW Artawi Solar Power Plant, to be developed with France's TotalEnergies. The project is recognised as a strategic component of Iraq's clean energy agenda. The Ministry of Oil has been instructed to fulfil its payment obligations under the power purchase agreements, and the Director General of the State Company for Southern Electricity Production is authorised to sign the contract addendum with the French energy firm.
These approvals mark a significant step in diversifying Iraq's energy sources and reducing its dependence on fossil fuels.
(Source: PMO) Tags: Artawi, cg, clean energy, Electricity In Iraq, featured, Ministry of Electricity, Ratawi, solar energy, solar power, State Company for Southern Electricity Production, TotalEnergies, UGT Renewables, United States
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Iraqi News
13 hours ago
- Iraqi News
Iraq's Central Bank faces last chance to reform banking sector
Baghdad ( – Iraq's Central Bank (CBI) is facing a critical deadline with less than two weeks for private banks to implement the reform roadmap proposed by the American company 'Oliver Wyman.' Failure to do so could lead to the direct intervention of the US Federal Reserve and the US Treasury, a scenario Baghdad is eager to avoid to protect its sovereignty and reputation. For years, the US Federal Reserve and Treasury have maintained a strict policy with the CBI, which led to approximately 50% of Iraqi banks being excluded from dealing in US Dollars due to sanctions and restrictions. During this period, the Federal Reserve imposed numerous requirements to enhance compliance, including the expansion of direct transfers and electronic payments, and the consolidation of banks through mergers and liquidation, along with changes in ownership and capitalization structures. This situation put the CBI in a difficult position, caught between the demands of the US Federal Reserve and powerful domestic interests that own and operate dozens of banks, which profit from the flow of US Dollars. As a compromise, the CBI commissioned 'Oliver Wyman,' a US-based firm with ties to the Federal Reserve and the Treasury, to evaluate the Iraqi banking system and present a reform plan. The resulting plan, presented by the consulting firm, mirrors the very requirements that the Federal Reserve and Treasury had demanded in the previous year. This suggests the CBI received the federal requirements indirectly, a tactic that appears to be a way to cover for direct US intervention in reforming the Iraqi banking system. The plan is now ready for implementation, but according to economic expert Ziyad Al-Hashimi, there are 'benefiting parties' working behind the scenes to obstruct the reforms. Al-Hashimi warns that if the CBI fails to enforce the plan, the Federal Reserve and Treasury will return to direct intervention and pressure, or impose even more stringent measures and sanctions. The CBI is working diligently to avoid this direct intervention to protect its reputation and assert its independence, a task that requires a firm stance against internal pressures.


Iraq Business
17 hours ago
- Iraq Business
Two Companies compete for Iraq LNG Import Terminal Project
By John Lee. The Iraqi Ministry of Oil has confirmed that it is going ahead with the floating terminal project for importing liquefied natural gas (LNG), stressing its importance for securing electricity generation. The Ministry said that the Council of Ministers and the Ministerial Energy Council have approved implementation mechanisms, including inviting six companies to submit proposals. Technical and ministerial committees were formed to review the bids. To support the project, South Gas Company (SGC) and State Company for Oil Projects (SCOP) have completed two key gas pipelines: A 40 km, 42-inch line from Khor al-Zubair to Shatt al-Arab, completed in June 2025. A 45 km, 42-inch line from Mahmoudiya to the Bismayah power station, also completed this year under challenging conditions. Following technical and commercial evaluations, only two companies remain qualified. The final decision is expected at the next meeting of the ministerial committee. The Ministry also rejected allegations of bias towards any bidder, emphasising that all procedures are being carried out transparently and in line with legal frameworks, under the supervision of multiple government ministries. It added that it will file a complaint against media outlets it accused of misleading public opinion about the project's progress. (Source: Ministry of Oil)


Iraq Business
17 hours ago
- Iraq Business
Turkiye Proposes New Agreement on Iraq-Turkiye Oil Pipeline
By John Lee. Turkey's Minister of Energy and Natural Resources, Alparslan Bayraktar, has said that Ankara has proposed a new draft agreement to Iraq regarding the Iraq-Turkiye Oil Pipeline (ITP) . In an interview with Sky News Arabia , Bayraktar noted that while the pipeline has a capacity of 1.5 million barrels per day, it has never been utilised at full capacity during its 50 years of operation. He explained that the existing agreement no longer meets current expectations or the needs of the global energy sector. Bayraktar confirmed that Iraq is currently reviewing the proposed draft and expressed hope that technical teams from both sides will soon meet to begin negotiations on a new framework. He stressed that Turkey's objective is to operate the pipeline at its full potential. (Source: Turkish Ministry of Energy and Natural Resources) Tags: Association of the Petroleum Industry of Kurdistan (APIKUR), Ceyhan, cg, featured, Genel Energy, GKP, Gulf Keystone Petroleum, Iraq Oil Exports News, Iraq Oil Production News, Iraq-Turkey Pipeline (ITP), Iraq-Türkiye Pipeline, KRG, Kurdistan News, Ministry of Oil, oil contracts, oil revenues, State Oil Marketing Organisation (SOMO), State Oil Marketing Organization (SOMO), Turkey, Turkiye