By John Lee.
Iraq's Cabinet has this week approved an agreement between the Iraqi Ministry of Electricity and Al-Bilal Group, a limited general contracting company, which includes a reduction in the power purchase tariff for two solar power station projects in Karbala (300 MW) and Alexandria (Iskandariya) (225 MW).
The agreement reduces the price from $40.7/MW-hour to $39.5/MW-hour.
It also stipulates the implementation of 75 MW out of the total contracted capacity of 525 MW within a maximum period of 12 months from the signing of the power purchase contract and before the project's financial closure, with the possibility of future expansion for both sites.
According to a previous report from MEES, Norwegian company Scatec decided in April to cease its involvement with these projects.
(Sources: Ministry of Oil, MEES)
Comments are closed.