QatarEnergy announced it has acquired a 50% stake in TotalEnergies' 1.25-gigawatt solar project in Iraq, part of the $27 billion Gas Growth Integrated Project (GGIP) aimed at enhancing Iraq's energy infrastructure and reducing its reliance on imports. TotalEnergies will retain the remaining 50% stake in the project, though the financial details were not disclosed.
The GGIP initiative is designed to boost Iraq's electricity supply by capturing and utilizing flared gas from three oilfields to fuel power plants. This effort aligns with Iraq's objective to reduce its import bill for energy, as the nation currently relies on Iran for 33-40% of its electricity and gas needs.
The solar project, set to be developed in phases from 2025 to 2027, will use 2 million bifacial solar panels and reach peak capacity of 1.25 GW. Located in southern Iraq's Basra region, it is expected to supply electricity to around 350,000 homes.
QatarEnergy joined the GGIP consortium last year with a 25% stake, while TotalEnergies and Iraq's Basra Oil Company hold 45% and 30% stakes, respectively. This solar project represents a critical component of the GGIP, advancing Iraq's renewable energy ambitions alongside natural gas improvements.
