Latest news with #IraqiMinistryofElectricity
Shafaq News
13-05-2025
- Business
- Shafaq News
Iraq in global top 10 for cheapest electricity
Shafaq News/ Iraq ranked tenth worldwide and third among Arab countries in terms of the lowest electricity consumption tariffs by the end of 2024. According to a website specializing in economic indicators, electricity prices in Iraq stood at $0.015 per kilowatt-hour for residential use and $0.046 per kilowatt-hour for commercial consumption. Globally, out of 140 countries, Zimbabwe topped the list with the cheapest electricity at $0.001 per kilowatt-hour, followed by Ethiopia at $0.003, Iran at $0.004, Cuba at $0.006, and Sudan at $0.006. Libya came in seventh with $0.007 per kilowatt-hour. At the opposite end, Bermuda recorded the highest electricity prices globally, reaching $0.472 per kilowatt-hour, followed by the Cayman Islands at $0.435. Within the Arab world, Sudan ranked first for the cheapest electricity tariffs, followed by Libya in second, Iraq third, Egypt fourth at $0.018 per kilowatt-hour, Syria fifth at $0.019, Oman sixth at $0.026, and Qatar seventh at $0.032. Meanwhile, the Iraqi Ministry of Electricity predicts that national demand could reach 55,000 megawatts during peak summer months. Current output hovers around 16,000 megawatts, with authorities targeting more than 27,000 megawatts by mid-year to mitigate chronic blackouts.
Iraqi News
11-03-2025
- Business
- Iraqi News
Baghdad reviews solar energy projects
Baghdad ( – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, chaired a meeting on Monday to review the technical details and solutions to carry out solar energy projects. The meeting was attended by the Iraqi Minister of Electricity, Ziyad Ali Fadel, officials, and renewable energy experts, according to a statement released by the Prime Minister's Office (PMO). The meeting addressed the role of the private sector in energy projects, which will be carried out under the direction of local authorities and in cooperation with the Iraqi Ministry of Electricity, which will buy the energy generated and oversee prices, expenses, and private sector activity. Fadel revealed in late January that 40 percent of the solar energy projects launched earlier have been completed, adding that the ministry has prepared a plan in accordance with the government's vision, including the addition of 1,750 megawatts of solar energy to the national grid, according to the state news agency (INA). Upon the completion of the government's plan, the electricity Iraq will generate is expected to meet the local demand, according to Fadel. The Iraqi minister elaborated that while Iraq generated 27,000 megawatts of electricity in 2024, the actual need was 48,000 megawatts. Fadel previously announced the start of 1,750 megawatt solar energy projects in the provinces of Karbala, Muthanna, and Basra. The Iraqi government is acting to achieve sustainability in the energy sector and diversify its energy sources in response to the country's increasing need for electricity. In 2023, the Iraqi Ministry of Electricity made an effort to reach agreements with significant corporations, such as France-based TotalEnergies to build a 1,000 megawatt power plant in Basra and China-based PetroChina to build a 750 megawatt power plant in Muthanna. Although the Iraqi cabinet authorized a plan to award projects to specialized firms to generate 7,500 megawatts of solar energy, these projects are part of a larger national strategy that aims to develop 12,000 megawatts of solar energy by 2030.
Iraq Business
10-02-2025
- Business
- Iraq Business
Linxon to Upgrade Power Stations in Iraq
By John Lee. The Iraqi Ministry of Electricity has signed three contracts with Linxon to rehabilitate key 400 kV BSP stations in Baghdad and Diyala as part of the Iraqi Electrical Super Grid. The agreements, funded by SEK and EKN loans, were signed by Riyad Uraibi Muklf, General Director of the General Company for Electrical Energy Transmission in the Middle Region, and Hassan Merhi, Linxon's Managing Director for the Middle East and Asia Pacific. The project, initiated under the directives of Minister of Electricity Zeyad Ali Fadhil, includes upgrades at North Baghdad, South Baghdad, and Diyala 400 kV BSP stations. Rehabilitation efforts will modernise electrical equipment, enhance protection and control systems, and improve infrastructure to ensure reliable operation of Iraq's power transmission network. Linxon is a joint venture between AtkinsRéalis and Hitachi Energy. (Source: Linxon)
