ACWA Power secures deal to construct 1,000-megawatt solar power plant in Iraq
In a significant development for Iraq’s energy sector, Ziyad Ali Fadel, the Iraqi Minister of Electricity, revealed on Wednesday the successful negotiation of an agreement with ACWA Power, a Saudi-based company, to erect a solar power plant boasting a formidable capacity of 1,000 megawatts in central Iraq.
The announcement was made during a pivotal meeting held in Baghdad between Fadel and high-ranking officials from ACWA Power, as reported by the Iraqi News Agency (INA).
During the meeting, discussions revolved around the procedural intricacies leading to the imminent signing of the contract for the groundbreaking solar energy facility, slated to be established in Najaf governorate. Minister Fadel underscored the Iraqi government’s proactive stance in fostering collaboration with Saudi Arabia, particularly within the energy domain, citing the recent green light received from the Iraqi cabinet to advance the project.
Emphasizing the significance of the impending venture, Minister Fadel elucidated that despite a three-year delay, the contract is poised for finalization, buoyed by the unwavering support of Prime Minister Mohammed Shia Al-Sudani. ACWA Power’s delegation, in turn, articulated their firm’s unwavering commitment to spearhead renewable energy initiatives within Iraq, underscoring Saudi Arabia’s steadfast dedication to bolstering bilateral cooperation across various sectors.
In a bid to expedite the realization of the ambitious undertaking, both parties resolved to orchestrate further deliberations, scheduling subsequent meetings between ACWA Power’s technical and legal teams and counterparts from the Iraqi Electricity Ministry. This concerted effort aims to streamline the finalization of the contractual arrangements, marking a pivotal stride towards the fruition of the colossal solar power project poised to reshape Iraq’s energy landscape.
The prospective construction of the 1,000-megawatt solar power plant signifies a paradigm shift towards sustainable energy solutions in Iraq, aligning with broader global initiatives aimed at mitigating climate change and reducing dependency on fossil fuels. As the nation embarks on this transformative journey, collaboration with seasoned industry players like ACWA Power underscores Iraq’s commitment to harnessing renewable resources to meet its burgeoning energy demands while fostering economic growth and environmental stewardship.
