Masdar, one of the world’s leading renewable energy companies signed a strategic agreement with the Republic of Iraq to develop five solar photovoltaic (PV) projects in the country with a combined capacity of 1 gigawatt (GW).
Masdar has signed an implementation agreement with Iraq’s Ministry of Electricity and the National Investment Commission to develop the following projects: a 450-megawatt (MW) plant in the Dhi Qar Governate in southern Iraq; a 100 MW and a 250 MW plant, both located in Ramadi in central Iraq; a 100 MW plant in Mosul in the north; and a 100 MW plant in Amarah in the southeast.
The agreement was signed by Suha Al-Najar, President of the National Investment Commission for the Republic of Iraq, Maha Hamoudi Abdul-Jabbar the Director-General of the Investments and Contracts Department at the Ministry of Electricity, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
The signing took place at a ceremony in Baghdad, in the presence of Mustafa Al-Kadhimi, Prime Minister of the Republic of Iraq, and Suhail Al Mazroui, Minister of Energy and Infrastructure for the UAE.
Ihsan Ismaael, Oil Minister for Iraq, Adel Karim, Minister of Electricity for Iraq, Salem Issa Qattam Al Zaabi, UAE ambassador to Iraq, and senior executives from Masdar also attended the ceremony.
The deal signed represents a significant step towards the relation of UAE and Iraq which will support Iraq in achieving its climate change and clean energy goals.
Suhail Al Mazroui, Minister of Energy and Infrastructure for the UAE, said, “The renewable energy sector is seeing rapid growth as clean technologies prove their economic viability. Masdar has proven its pioneering status through its diverse projects portfolio and contribution to the UAE’s efforts to build a competitive, knowledge-based economy, one based on innovation and sustainability with an advanced infrastructure,” said Al Mazroui.
“Through this milestone agreement, we look forward to exploring similar such opportunities in the region, and to consolidate our partnership with our brothers in Iraq in order to ensure a more sustainable future for the region.”
Mohamed Jameel Al Ramahi, CEO of Masdar, said, “This agreement strengthens the already powerful bond between the UAE and the Republic of Iraq, and will facilitate knowledge exchange between our two great nations. The UAE and Iraq share a common goal to diversify the energy mix, and to take a lead on climate action.”
“Masdar has been a catalyst for renewable energy and clean-tech innovation in more than 30 countries around the world, and we will leverage the expertise we have developed to support Iraq in its energy transition,” he added.
In June, Masdar announced the signing of Heads of Agreement with the Ministry of Electricity and the National Investment Commission to develop projects in Iraq with a minimum total capacity of 2 GW.
Iraq is the second-largest oil producer in the Organization of Petroleum Exporting Countries (OPEC) and now is looking to increase the percentage of renewables in its total power production capacity to 20 to 25 percent by the end of this decade to address supply issues and meet climate objectives, which would be equivalent to 10 to 12 GW.
Iraq enjoys some of the most attractive solar irradiation levels in the region and this year it ratified the Paris Agreement on climate change as well.