Economy Update – Baghdad
Today, the Basra Investment Authority announced the signing of an agreement for the construction of a solar power plant with a capacity of 1000 megawatts in partnership with Total Energy.
The Authority issued a statement confirming the agreement with the French firm Total Energy, which outlines the establishment of a solar power facility aimed at electric power generation. The project will have a total investment of $820 million.
A spokesperson from the Authority, Alaa Abdel-Hussein, indicated that the project is slated for completion over the next three years (36 months), and it comprises four distinct stages. The solar power plant will be located in the Zubair district, specifically in the Artawi area.
Abdel-Hussein emphasized that Total Energy is a reputable company within the energy sector, noting that the implementation of the project will utilize advanced technologies and the latest innovations in renewable energy.
For further updates, subscribe to our channel on Telegram