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Solar power plant engineer is checking. Getty Images Image used for illustrative purpose.
Iraq is ramping up solar projects to produce 12 gigawatts (GW) of power in 2030 to tackle a widening post-conflict electricity shortage, Iraq’s Oil Minister said on Monday.
To shun an expansion in the budget deficit, OPEC’s second largest oil producer is paying in crude to most contractors who have been awarded solar projects over the past two years, including the French giant TotalEnergies, Hayan Abdul Ghani said.
He told Iraq’s Shafaq news agency that key oil facilities will soon be linked to solar sources as part of plans to cut fossil fuel reliance and expand clean energy.
To finance the transition, the ministry is using a crude-for-infrastructure barter model, involving trading oil for solar project development without drawing on the federal budget. Abdul Ghani highlighted the 1 GW solar project in Basra by TotalEnergies, with 250 megawatts (MW) expected to go online by late 2025.
“With electricity demand rising, particularly in the south, the Oil Ministry is working with the Electricity Ministry on a national plan targeting 12 gigawatts of renewable energy by 2030,” the Minister said.
He confirmed that Iraq’s first solar power plant will be operational by year-end, framing emissions cuts as key to attracting investment, fostering innovation, and gaining access to global carbon markets.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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