TotalEnergie to own and operate 1000 MW solar PV in Iraq for the period of 25 years. This will be constructed in the Southern Port of Basra, near Baghdad to cut back its reliance on Iran for energy imports.
1000 MW solar PV project will be completed in 36 months and on a BOOT (Build-Own-Operate-Transfer) basis, the contract was awarded to TotalEnergie.
The official said, “Under the agreement, Total will own the plant and sell electricity to the government for $38 per hour for 25 years before it hands it over.”
The country has also awarded solar PV projects to Masdar Company.
Oil Minister of Iraq, Ihsan Abdul Jabbar said that the country is planning to expand its clean energy sources to 33% by 2030. Iraq is also planning to add new solar energy projects with foreign countries for the same.
The projects signed over the past few months and new contracts planned by the Arab country would boost total solar power energy to nearly 12,000 megawatts (MW) in 2030.