By John Lee.
The head of Iraq's National Investment Commission (NIC), Dr. Haider Mohammed Makia [Makiyya], has announced the signing of two investment licences with Al-Bilal Group for General Contracting Ltd. to develop solar power plants in Karbala and Babil provinces, with a combined capacity of 525 megawatts.
The projects will include a 225-MW plant in Alexandria (Iskandariya), Babil, and a 300-MW plant in Karbala.
Partial operation is expected to begin by mid-June this year with 75 MW, while the remaining capacity will follow after financial closure is secured by the investor and the funding bank.
In July 2023, the Iraqi Cabinet approved a reduction in the power purchase tariff for these two projects from $40.7/MW-hour to $39.5/MW-hour.
(Source: NIC)
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