Baghdad: Minister of Electricity Ziyad Ali Fadel announced that the Iraq Investment Forum will present a package of investment opportunities in renewable energy, including projects to generate up to 10,000 megawatts through solar, wind, and waste-to-energy sources. He also confirmed that the ministry had previously launched projects to produce more than 24,000 megawatts in cooperation with international companies.

According to National Iraqi News Agency, during a panel session at the forum, Fadel stated that the ministry had recently signed agreements with reputable global firms to add new generation capacities, including more than 15,000 megawatts from thermal power projects under the investment system, of which 10,000 megawatts have already been approved by the Council of Ministers.

He added that the current conference offers broad opportunities in renewable energy, noting that the new projects will be financed through international guarantees and global banks, and have been approved by the World Bank, ensuring investor confidence and contract stability.

The minister emphasized that the ministry’s strategy is based on diversifying energy sources through local gas investments, regional interconnections, and expanded investment projects inside Iraq.

He explained that the new ventures include the installation of more than two million solar panels in Basra and 450,000 panels in Babil and Karbala. He further noted that the ministry has signed agreements with leading companies such as General Electric, Siemens, and Shanghai Electric to produce additional capacities exceeding 14,000 megawatts in partnership with the private sector.

Fadel concluded that the total additional targeted capacity amounts to around 24,000 megawatts, a significant step to meet the growing demand for electricity and ensure the stability of the national grid for years to come.