The Iraqi cabinet has approved two solar projects in a development that may revitalize its renewable energy strategy. The projects approved on 30 May are TotalEnergies’ 1GW solar plant to be built as part of the French firm’s $27bn megaproject in Basra, and a two-stage 750MW plant in Muthanna province to be delivered by Chinese state-firm PowerChina.
The latter will not be an investment project and Iraq will bear the full $520.23mn cost. The cabinet has authorized the Ministry of Electricity to contract PowerChina for the first 250MW phase with the condition that the Chinese firm will “fully operate” the plant. (CONTINUED - 361 WORDS)
