By John Lee.
At its most recent meeting this week, the Iraqi Cabinet has approved the purchase prices for electricity bought from Silver Crescent:
- Energy purchase tariff on gas: $24.94 per megawatt hour (MWh);
- Energy purchase tariff on heavy fuel: $32.37 per megawatt hour (MWh);
- Combined cycle energy purchase tariff: $36.81 per megawatt hour (MWh),
provided that the contract period is 20 years.
The Ministry of Finance issued a payment guarantee for energy purchase dues from the Ministry of Electricity for the duration of the energy purchase contract of 20 years, from the competent committee.
According to its website, Silver Crescent is an Iraqi company headquartered in Baghdad (Ministry of Trade License #M SH A- 2 14182). It adds:
"Silver Crescent received an investment license number 460 from Al-Muthana Investment Commission to develop Al-Samawah Economic, Industrial, Commercial Services Axis on January 04, 2023.
"The project is currently developed on 5,000,000 M2 land 20KM South of Samawa City Center. The land is strategically located near the Strategic Gas Pipeline and National Electric Grid. The First Phase include the developments of 250MW Power Plant to provide electricity to 250,000 homes in Samawa and it should cover 50% of the current power shortage in the city."
(Sources: Ministry of Oil, Silver Crescent)
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