QatarEnergy signed a partnership agreement on Monday with TotalEnergies to acquire a 50 percent stake in a solar photovoltaic project that forms part of Iraq's multi-billion-dollar Gas Growth Integrated Project (GGIP).
According to a statement from QatarEnergy, the company will secure a 50 percent share in the solar photovoltaic project, with TotalEnergies holding the remaining 50 percent.
The project, to be developed in phases from 2025 to 2027, is expected to feature 2 million bifacial solar panels mounted on single-axis trackers.
Once completed, the project is anticipated to generate up to 1.25 gigawatts of power for the electricity grid in Iraq's Basra region, serving about 350,000 homes, said the statement.
In June 2023, QatarEnergy announced its entry into a consortium to implement GGIP ambitions in Iraq, with a 25 percent share, alongside TotalEnergies, holding a 45 percent share, and Iraq's Basra Oil Company, owning a 30 percent stake.
Editor:Leo
