Syria Signs Landmark $5,000 MW Energy Deal with Urbacon-Led Consortium

In a major step toward rebuilding its energy infrastructure, the Ministry of Energy of the Syrian Arab Republic has signed final concession agreements with an international consortium led by Urbacon Holding, through its subsidiary Urbacon Concessions Investment, to develop and operate eight new power generation projects totaling 5,000 megawatts (MW).

The consortium includes Kalyon G.I.S. Energy, Cengiz Energy, and Power International (USA), marking one of the largest foreign investment packages in Syria’s post-conflict recovery phase. The signing follows a Memorandum of Understanding (MoU) inked on May 29, 2025, which set the foundation for strategic cooperation in Syria’s power sector and laid out a framework for modernizing the nation’s electricity infrastructure.

The agreements were formalized at the Ministry of Energy headquarters in Damascus, with H.E. Eng. Mohammad Al-Bashir, Minister of Energy, and Mr. Ramez Al-Khayyat, President of Urbacon Holding, officiating the ceremony. Senior representatives from consortium partners and Syrian energy entities were also present.

The project encompasses the construction and operation of four high-efficiency natural gas-based combined-cycle power plants — North Aleppo (1,200 MW), Deir Ezzor (1,000 MW), Zayzoun (1,000 MW), and Mhardeh (800 MW) — along with four solar power projects totaling 1,000 MW, distributed across Widian Al-Rabee (200 MW), Deir Ezzor (300 MW), Aleppo (300 MW), and Homs (200 MW).

According to the Ministry, the projects will utilize the latest technologies to ensure high efficiency, safety, and environmental performance. Construction is scheduled to begin immediately, following completed engineering surveys and site studies, with phased commissioning expected under an accelerated timeline.

Minister Mohammad Al-Bashir emphasized that the initiative marks “a qualitative leap in Syria’s energy infrastructure,” adding that it will bridge the power generation gap, stabilize the national grid, and drive industrial and economic recovery.

Mr. Moutaz Al-Khayyat, Chairman of Urbacon Holding, described the partnership as “a cornerstone for sustainable development and a sign of renewed international confidence in Syria’s economic potential.” He noted that the collaboration between public and private sectors will create “a ripple effect across industries, supply chains, and investment flows.”

The projects are expected to generate tens of thousands of jobs during both construction and operational phases, while also enabling training and skill development for Syrian engineers and technicians.

This initiative represents Syria’s first major public-private partnership (PPP) in the energy sector, underscoring the country’s intent to attract large-scale foreign investment and modernize its energy landscape. Industry observers view the project as a potential catalyst for renewed economic activity and future partnerships in other key sectors, including manufacturing and infrastructure.