TotalEnergie of France will own and operate its planned 1,000-megawatt solar photovoltaic power plant in Iraq for 25 years before it hands the facility over to the Iraqi government, a local news network has said. 

Iraq has recently awarded TotalEnergie the contract to construct the solar power station in the Southern Port of Basra within a post-war drive by Baghdad to boost electricity production and slash reliance on energy imports from nearly Iran. 

The project in Basra will be completed within 36 months, Aliqtisad News said, adding that the contract was awarded to Total on a BOOT (Build-Own-Operate-Transfer) basis. 

“Under the agreement, Total will own the plant and sell electricity to the government for $38 per hour for 25 years before it hands it over,” the report said, citing a document by the Iraqi Electricity Ministry, which awarded the contract to the French firm. 

Iraq has also awarded similar projects to Abu Dhabi-based Masdar Company and other firms while there are plans to invite ACWA Power of Saudi Arabia to build a solar plant. 

Officials have said there are plans to expand renewable energy sources to 33 percent of the total energy mix in Iraq by 2030, mostly through solar power projects. 

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)  

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