QatarEnergy has signed an agreement with TotalEnergies to acquire a 50% interest in a 1.25 GW solar project that is part of the Gas Growth Integrated Project (GGIP) in Iraq. TotalEnergies will retain a 50% stake in the project. The transaction is subject to regulatory approvals. Located in the Basra region of Iraq, the project, which will consist of 2 million high-efficiency bifacial solar panels mounted on single-axis trackers, is to be developed in phases that should come online between 2025 and 2027.
In June 2023, QatarEnergy entered into a consortium to Gas Growth Integrated Project in Iraq, with a 25% participating interest, together with TotalEnergies (45%) and Iraq’s Basra Oil Company (30%). GGIP 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.
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