Dr. Haider Mohammed Makia, head of Iraq’s National Investment Commission (NIC), announced the signing of two investment licenses with Al-Bilal Group for General Contracting Ltd. to develop solar power plants in Karbala and Babil provinces, with a combined capacity of 525 megawatts.
The projects include a 225-MW plant in Alexandria (Iskandariya), Babil, and a 300-MW plant in Karbala.
Partial operations are expected to commence by mid-June 2025 with 75 MW, with full capacity coming online after the investor and funding bank complete financial closure.
In July 2023, the Iraqi Cabinet approved a reduction in the power purchase tariff for these projects from $40.7/MW-hour to $39.5/MW-hour.
(Source: NIC)
