UAE-based renewable energy company Masdar has signed a strategic agreement with the Republic of Iraq to develop five solar photovoltaic (PV) projects in the country with a total capacity of one gigawatt (GW).
According to the statement, Masdar has inked the implementation agreement with Iraq’s Ministry of Electricity and the National Investment Commission “to develop a 450-megawatt (MW) plant in the Dhi Qar Governate in southern Iraq, a 100 MW and a 250 MW plant in Ramadi in central Iraq, a 100 MW plant in Mosul in the north, and a 100 MW plant in Amarah in the southeast.”
“This agreement strengthens the already powerful bond between the UAE and 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.”
Mr. Suhail Al Mazroui, Minister of Energy and Infrastructure for the UAE said, “This agreement represents an important step forward in relations between the UAE and Iraq and will support Iraq’s efforts to achieve its clean energy and climate change goals.”
“The renewable energy sector is seeing rapid growth as clean technologies prove their economic viability. Masdar’s 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,” the minister added.
In June, Masdar had signed Heads of Agreements with the Ministry of Electricity and the National Investment Commission to develop projects in Iraq with a minimum total capacity of 2 GW.