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OPEC member Iraq is planning to offer 7 solar power stations to investors within a post-war strategic to ease pressure on public funds and expand reliance on renewable energy, the official Al-Sabah newspaper reported on Wednesday.
The National Investment Commission (NIC), the Arab country’s top investment decision-making body, will offer those stations in the central Bablyon and Karbala Governorates, as well as in Muthanna in the South and Wasit in the East, the paper said, quoting NIC chairperson Suha Al-Najjar.
“We have received approval from the cabinet to offer those solar power stations as an investment…this move is intended to expand public-private sector partnership and increase clean energy production in Iraq,” she said without giving further details.
Iraq, which controls the world’s 5th largest oil deposits, is suffering from severe power supply shortages due to damage caused to the energy sector during the war.
In a report released in January, the Dubai-based Middle East Solar Industry Association (MESIA) said Iraq has approved some renewable energy projects but that it faces obstacles that have forced it to rely heavily on imported energy supplies.
"Renewable energy and solar projects have started to emerge to help meet electricity needs. However, COVID19, low oil prices and the expected huge deficit in 2020 federal budget, have heavily impacted Iraq's new renewable energy plans,” it said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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