Saturday, December 21, 2024

QatarEnergy and TotalEnergies Launch a major Solar Initiative in Iraq

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In a significant move towards sustainable energy development, QatarEnergy has teamed up with TotalEnergies to spearhead a major solar power project in Iraq. The 1.25 GW initiative, a cornerstone of the wider Gas Growth Integrated Project (GGIP), is set to transform Iraq’s energy landscape by harnessing the power of the sun.

This ambitious venture will see the deployment of two million cutting-edge bifacial solar panels, specifically designed to capture sunlight from both sides. Mounted on single-axis trackers, these panels will deliver clean, renewable energy to approximately 350,000 homes in the Basra region, marking a significant stride in reducing the country’s reliance on fossil fuels.

QatarEnergy, under the leadership of the Minister of State for Energy Affairs, Saad Sherida Al-Kaabi, is acquiring a 50% stake in this solar endeavor, with TotalEnergies holding the remainder. Al-Kaabi emphasized that this partnership is not just about power generation; it’s a pivotal contribution to Iraq’s energy security and sustainable development goals. “This project represents a meaningful step in addressing energy demands while minimizing environmental impacts,” he stated.

The GGIP aims to not only develop Iraq’s vast natural resources but also significantly curb gas flaring, a major environmental concern in the Basra region. Gas flaring, the burning of natural gas associated with oil extraction, releases substantial greenhouse gases. By mitigating this, the GGIP contributes to international efforts to combat climate change.

The solar project is set to unfold in phases between 2025 and 2027. It follows a strategic move by QatarEnergy in June 2022, when it joined a consortium with a 25% stake in GGIP projects across Iraq, working alongside TotalEnergies, which holds a 45% share, and Iraq’s state-owned Basra Oil Company with 30%.

In related developments, global energy trends highlight a growing shift towards renewables, as countries worldwide strive to meet climate targets. Iraq’s commitment to integrating solar power reflects a broader regional trend of investing in sustainable energy solutions. This project not only solidifies QatarEnergy and TotalEnergies’ presence in Iraq’s energy market but also sets a precedent for future collaborations aimed at sustainable development.

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