Iraq seeking solar, wind investors

Iraq seeking solar, wind investors

The Iraqi government is looking for foreign investment partners to build three new solar power plants of between 5 MW and 10 MW each.

The Ministry of Electricity and the National Investment Commission (NIC) announced the renewable energy project this week. In addition to the three solar plants, the country is also looking to construct a wind power station of similar capacity. The solar power plants are planned for the provinces of Diwaniya and Najaf while the wind turbines will be erected in Misan.

Two of the solar plants will be built in Diwaniya at two separate sites, one covering an area of 50 donum (12.5 hectares or 31 acres), the other between 12.5 and 15 hectares. In Najaf, the planned solar facility would cover some 200 donum (50 hectares).

According to the NIC, investors willing to invest in the project should submit an interest letter to the Commission within the next 30 days that includes a  project feasibility study matching one arranged by the Ministry of Electricity, preliminary engineering plans, project financing details and reference projects.

The project will enjoy tax and fees exemptions according to investment law provisions. In addition, the Ministry of Electricity, the NIC and provincial governments will ensure investors obtain all necessary licenses and approvals for the project as well as assistance during the implementation and operation stages. Investors also have the right to repatriate capital, revenue and workers fees following payment of financial dues, the NIC added.

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