Shafaq News – Iraq has shortlisted eight companies for solar energy projects as part of the first phase of a Central Bank-backed initiative, Electricity Minister Ziyad Ali Fadel announced. The initiative marks a significant step in the country’s efforts to expand its renewable energy sector.
“The current government is making history by turning solar energy projects into a tangible reality,” Fadel stated, commending the Central Bank of Iraq for providing interest-free loans to support the program.
The initiative allows homeowners to install solar power systems under the “Renewable Energy” program, which Fadel described as a “sustainable solution” to Iraq’s persistent electricity shortages.
As pollution from oil production rises and the country remains reliant on Iranian gas imports for electricity, Iraq has been accelerating efforts to diversify its energy mix. In October, the Electricity Ministry launched an electronic platform to accredit specialized solar energy companies, aligning with the government’s target to generate 20% of its electricity from renewable sources by 2030.
On Monday, the Basra Investment Commission signed an agreement with French energy giant TotalEnergies to develop a 1,000-megawatt solar power station—one of Iraq’s largest renewable energy projects. Additionally, two solar plants with a combined capacity of 500 megawatts will be established in Kirkuk Province as part of the broader push for clean energy.
Speaking at the Iraq Energy Conference in January, Prime Minister Mohammed Shia Al-Sudani emphasized the country’s increasing focus on solar power. “We have launched solar energy projects with a total capacity of 4,875 megawatts upon completion,” he said, reaffirming the government’s commitment to home solar installations through the Central Bank’s $1 trillion loan initiative.
Iraq remains committed to achieving its renewable energy goals, with solar power playing a central role in its long-term strategy.
