QatarEnergy signs agreement with TotalEnergies to partner in 1.25GW solar project in Iraq

QatarEnergy has signed a partnership agreement with TotalEnergies to enter into a solar power project that is part of the Gas Growth Integrated Project (GGIP) in the Republic of Iraq.Pursuant to the terms of the agreement, which is subject to regulatory approvals, QatarEnergy will acquire a 50% interest in the solar photovoltaic project, while TotalEnergies will retain the remaining 50%.This strategic project, which will be one of the largest in the world, will consist of 2mn high-efficiency bifacial solar panels mounted on single-axis trackers and will, upon its completion, be capable of supplying up to 1.25 gigawatts (peak) of solar-generated power to the electricity grid in the Basra region of Iraq. The project will be developed in phases that will come online between 2025 and 2027 and will have the capacity to provide electricity to about 350,000 homes in the Basra region.HE Saad bin Sherida al-Kaabi, the Minister of State for Energy Affairs, also the president and CEO of QatarEnergy, said: "I am pleased to have concluded our entry into this very important project for Iraq’s energy sector, and look forward to working with our strategic partner, TotalEnergies, to progress it to fruition. We thank the Iraqi government for their trust, and TotalEnergies for this opportunity to support Iraq’s solar power development.”QatarEnergy announced in June 2023 that it had entered into a consortium to implement the GGIP in Iraq, with a 25% participating interest, together with TotalEnergies (45%) and Iraq’s Basra Oil Company (30%).GGIP is a key strategic project that involves the design and construction of facilities to develop Iraq’s natural resources in addition to recovering significant volumes of otherwise flared gas throughout the Basra region to supply power generation plants.