Masdar, a renewable energy firm based in the United Arab Emirates, plans to build solar photovoltaic projects in Iraq with a minimum total capacity of 2GW. The projects, which are anticipated to support Iraq’s aim of installing 10GW of solar power capacity by 2025, will be developed in the country’s central and southern regions. The agreement was virtually signed by ministers from both the nations along with the CEO of the company.
Established in 2006, Masdar, Abu Dhabi Future Energy Company, is a leading developer and operator of utility-scale as well as off-grid renewable energy projects. The company is wholly owned by Abu Dhabi government’s Mubadala Investment Company and develops commercially viable renewable energy projects in the Middle East and North Africa and international markets. Active in over 30 countries, the total power generating capacity of its operational and under construction projects is nearly 11 GW.
The collaboration between Masdar and the government of the Republic of Iraq will add considerable value to the Emirati and Iraqi collaborations in solving the difficulties posed by climate change and keeping up with rising energy demand. The project is one of the largest renewable photovoltaic solar projects in the Middle East, with a goal of delivering 2 GW of green energy to Iraq’s national grid. Iraq is aiming for 20 to 25 percent of its energy to come from renewable sources rather than fossil fuels, which will require installing about 10 to 12 GW of capacity This programme also emphasises the need for collaboration between the public and private sectors in identifying cost-effective solutions.
