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QatarEnergy and TotalEnergies have agreed to jointly develop a 1.25 gigawatt (GW) peak solar power project in Iraq's Basra region, the companies said on Monday.
Under the agreement, which awaits regulatory approvals, QatarEnergy will acquire a 50 percent stake in the project, while TotalEnergies will hold the remaining 50 percent, QatarEnergy said in a press statement.
The solar power project, part of Iraq's $10 billion Gas Growth Integrated Project (GGIP), aims to generate electricity for around 350,000 homes and is expected to be completed in phases between 2025 and 2027.
The project will use two million high-efficiency bifacial solar panels mounted on single-axis trackers and provide electricity to approximately 350,000 homes.
The solar project complements GGIP’s broader goals of utilising Iraq’s natural resources, including recovering substantial volumes of flared gas in the Basra region to power generation plants.
QatarEnergy initially joined the GGIP consortium in June 2023, holding a 25 percent stake alongside TotalEnergies (45 percent) and Iraq’s Basra Oil Company (30 percent).
(Writing by Majda Muhsen; Editing by Anoop Menon)
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