Iraq shortlists eight firms for solar energy projects
Shafaq News/ Iraq has prequalified eight companies for solar energy projects under the first phase of a Central Bank-backed initiative, Electricity Minister Ziyad Ali Fadel said on Tuesday, as the country steps up efforts to expand its renewable energy sector.
'The current government is making history as the first to translate solar energy projects into tangible reality,' Fadel said in a statement, praising the Central Bank of Iraq for supporting the initiative through interest-free loans to citizens.
The initiative will enable homeowners to install solar power systems under the 'Renewable Energy' program, providing what Fadel described as a 'sustainable solution' to Iraq's chronic electricity shortages.
Iraq has been pushing to diversify its energy sources, particularly as pollution from oil production rises and the country remains heavily dependent on Iranian gas imports for electricity.
In October 2024, the Electricity Ministry launched an electronic platform to accredit specialized solar energy companies. The government aims to generate 20% of its electricity from renewable sources by 2030, with solar playing a key role.
On Monday, the Basra Investment Commission signed an agreement with French energy company TotalEnergies to construct a 1,000-megawatt solar power station, marking one of Iraq's largest renewable energy projects. Additionally, two solar plants with a combined capacity of 500 megawatts are set to be established in Kirkuk Province as part of the broader push toward clean energy.
Speaking at the Iraq Energy Conference in January, Prime Minister Mohammed Shia Al-Sudani highlighted the country's growing focus on solar power. 'We have launched solar energy projects with a total capacity of 4,875 megawatts upon completion,' he said, noting the government's commitment to supporting home solar systems through the Central Bank's 1-trillion-dollar loan initiative.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Shafaq News
an hour ago
- Shafaq News
Following Shafaq Probe, Iraq orders global hunt for "forgotten" billions in state assets
Shafaq News/ The Iraqi Parliamentary Foreign Relations Committee called on the Ministry of Foreign Affairs to direct ambassadors, consuls, and diplomatic missions abroad to take concrete steps in identifying and reclaiming state-owned assets held overseas. The step came after Shafaq News investigation, citing senior diplomatic sources, revealed that Iraq owns at least 50 properties and investment ventures spread across Europe, Asia, and Africa. These include luxurious palaces, farms, banks, commercial offices, and key industrial facilities, many of which have remained unaccounted for since the fall of the previous regime. Committee member Mokhtar al-Mousawi told Shafaq News that Iraq possesses numerous properties and assets across various countries, all backed by official documentation. However, he stressed that these holdings require serious efforts to be formally registered under the Iraqi state once again. 'These assets include properties that were entrusted to individuals or registered under private names during the former regime. With the right diplomatic engagement, they can be recovered,' al-Mousawi stated. He urged the Ministry of Foreign Affairs to instruct Iraq's ambassadors and consuls to intensify their efforts to restore these properties—some of which are worth millions of dollars. According to al-Mousawi, notable examples include a large mosque in Australia, expansive tea plantations in Sri Lanka, and agricultural lands in Yemen. On domestic assets tied to the former regime, al-Mousawi noted that some seized properties in Baghdad's Green Zone are now being sold to current occupants at a rate of four million Iraqi dinars per square meter—a figure he criticized as undervaluing the strategic importance and location of these properties.
Shafaq News
2 hours ago
- Shafaq News
Iraqi Defense Minister: Coalition presence in Syria "necessary"
Shafaq News/ Iraqi Defense Minister Thabit al-Abbasi on Friday said the presence of Global Coalition forces in Syria remains necessary, noting that Iraq's security is closely linked to stability in its neighboring country. In an interview with Al Arabiya, al-Abbasi confirmed that coordination with the US-led coalition remains intact, adding, 'Baghdad has not received any official notification regarding changes to the withdrawal schedule of coalition forces from either Syria or Iraq.' The minister stressed that the continued presence of US and coalition forces in Syria remains 'necessary to confront remnants of the terrorist organization, which still poses a cross-border threat.' Currently, around 2,500 US troops remain stationed in Iraq, with approximately 900 deployed in Syria. Discussions on the future of these forces have been ongoing for months.
Shafaq News
2 hours ago
- Shafaq News
Syria reactivates key industrial facilities as economic rebuilding efforts intensify
Shafaq News/ The Syrian Ministry of Economy and Industry is moving forward with plans to rehabilitate and restart critical industrial plants, Hasan Al-Ahmad, Director of the Media Office at the Ministry, told Shafaq News. Al-Ahmad revealed that several major facilities have recently resumed operations, including the Hama Iron Plant and the Damascus Cables Factory, along with other strategic assets. 'These facilities are currently undergoing technical evaluations to assess their readiness for flexible and efficient investment models,' he said, adding that the goal is to maximize operational efficiency and ensure these assets contribute effectively to economic recovery. Supporting the national production, Al-Ahmad stressed, remains a cornerstone of Syria's industrial strategy. 'We want Syrian-made products to compete confidently in both domestic and international markets.' Regarding the Ministry's primary focus for the coming phase, it is 'to elevate the standards of the national industry, positioning it as a benchmark for quality and export potential.' This, he said, would help stimulate economic growth, create job opportunities, and strengthen public trust in local manufacturing. Syria's economy has been in a state of collapse since the outbreak of mass protests and civil conflict in 2011. A recent joint report by the United Nations Economic and Social Commission for Western Asia (ESCWA) and UNCTAD, published on January 25, 2025, and titled 'Syria at a Crossroads: Toward a Stable Transition Phase,' highlighted the challenges facing the Syrian economy and outlined scenarios for its potential recovery. According to the report, a recovery scenario assumes successful reconstruction efforts, governance reforms, and sufficient international aid, particularly in the fields of agriculture, industry, and energy. Under this model, Syria could regain up to 80% of its pre-war GDP by 2030, provided the country maintains an average annual growth rate of 13% over the 2024–2030 period. Even in this best-case scenario, per capita income would still reach only half of its 2010 level.
