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By John Lee.

Iraq and the International Monetary Fund (IMF) have concluded a round of negotiations in Amman, Jordan, making progress towards an IMF-supported reform programme for the coming years. Finance Minister Faleh Sari said the discussions focused on establishing a medium-term reform path for 2027-2029.

According to the Ministry of Finance, the reform programme aims to improve Iraq's public finances, establish a clear monetary framework to stabilise monetary policy, and strengthen the banking sector - including both state-owned and private banks. Talks also covered anti-money laundering and counter-terrorism financing measures, electricity sector reform, and improvements to governance and anti-corruption frameworks.

The minister confirmed that expert-level negotiations will continue in the coming period, with the aim of producing a joint document setting out a financial reform framework and a three-year implementation timetable.

(Source: Ministry of Finance)

By John Lee.

A payment of $111 million has been released to South Korean contractor Hanwha for completed residential units at the Bismayah housing project in Baghdad.

The National Investment Commission (NIC) announced the release of the first instalment, covering 8,280 completed units, following the completion of all required legal and documentary procedures.

The payment was processed via a transfer from the NIC's account to Hanwha's account at Rafidain Bank, routed through the Central Bank of Iraq (CBI), in accordance with Cabinet decisions on the disbursement of dues for completed works.

According to the NIC, the funds are expected to support the handover of residential units to beneficiaries, with Rafidain Bank processing lending contracts in sequential batches according to contract priority. The payment is also intended to enable Hanwha to continue operating and managing utilities and essential services within the city, including electricity stations, water systems, and sanitation infrastructure.

The NIC said it is continuing to coordinate with Rafidain Bank and financing entities to release a second instalment of $111 million, as well as to finalise financial and legal arrangements for the remaining 70,000 units. Adel Dakhil Muhammad al-Yasiri, head of the NIC, announced the release of the first instalment on Thursday.

(Source: National Investment Commission)

By John Lee.

Discussions on expanding Italian investment in Iraq's electricity sector have taken place between the National Investment Commission (NIC), Italian Ambassador Nicolò Fontana, and representatives of energy technology company Ansaldo Energia.

According to the NIC, the meeting reviewed Ansaldo Energia's existing involvement in Iraq's power infrastructure and examined new proposals covering projects in the Khairat, Mansuriya, and Haideria areas, associated gas utilisation at the Zubair oil field, and the conversion of existing power stations to combined-cycle operation to improve efficiency.

NIC chairman Adel Dakhil Muhammad al-Yasiri hosted the meeting.

The NIC said it would provide the necessary facilities to support investment and the transfer of advanced technology.

(Source: National Investment Commission)

By John Lee.

A memorandum of understanding (MoU) has been signed between Iraq's General Company for Carbon Economics (GCCE) and US-based Morgan Hughes Energy (MHE), aimed at developing projects to capture and utilise low-pressure associated gas currently being flared at oil production sites across Iraq.

The agreement was signed under the patronage of Minister of Environment Sarwa Abdul-Wahid and in the presence of US Chargé d'Affaires Steven Fagin. Gregory Bloom, Managing Director of Morgan Hughes Energy, represented the US firm.

According to GCCE Director General Hayder Aldarraji, the proposed partnership aims to:

• Reduce associated gas flaring and support Iraq's climate commitments
• Develop carbon credit projects using measurement, reporting and verification (MRV) systems aligned with international standards
• Utilise recovered gas to generate electricity for oil production operations, reducing reliance on the national grid

According to its website, MHE affiliates have operated in Iraq for over twenty years, and, "MHE also owns a 50,000 barrel-per-day wet crude Early Production Facility in the country and operates a 40 MMSCFD associated gas treatment plant that supplies fuel gas to a 150 MW power plant, exporting electricity to the national grid."

(Source: Hayder Aldarraji via LinkedIn)

By John Lee.

Combined-cycle units with a capacity of 125MW each are under construction at the South Baghdad Gas Power Station and the Khor al-Zubair power station, with both units planned to enter service before next summer.

According to Iraq's Ministry of Electricity, a meeting was held on Sunday between Mohammed Naama al-Tufeili, Undersecretary for Production Affairs, and representatives of Chinese firm Dongfang Electric, to review progress on the two projects. The Directorate of Planning and Studies and the Central Electricity Production Directorate were also represented.

The meeting addressed delays in the delivery of materials and equipment held up in the Strait of Hormuz due to the security situation, and the impact of those delays on implementation schedules. Al-Tufeili stressed the importance of resolving obstacles, accelerating work, and coordinating to ensure the projects are completed on time.

(Source: Ministry of Electricity)

By John Lee.

Iraq's Cabinet has approved the removal of customs duties on imported solar energy systems, in a move aimed at encouraging uptake of renewable energy and reducing the cost of purchasing solar equipment.

According to the Ministry of Electricity, the decision followed a formal proposal submitted by Minister of Electricity Ali Saad Wahib to the Prime Minister on 23 September 2026, requesting a reduction in tariffs on solar systems and their components.

Separately, the Ministry has prepared a draft set of regulations governing the connection of solar systems to the national electricity grid. The draft, comprising 40 articles, covers the mechanisms for grid connection and the exchange of electricity between citizens and the national network.

Once approved, the regulations would allow citizens to connect their solar systems to the national grid using smart meters, with electricity bills reduced in proportion to the amount of energy fed back into the network. The Ministry has referred the draft to the State Council for legal review before submission to the Cabinet for formal approval.

(Source: Ministry of Electricity)

By John Lee.

Iraq's Minister of Electricity, Ali Saad Wahib, has met with the UK Ambassador to Iraq, Irfan Siddiq, to discuss cooperation in the electricity sector.

The meeting covered solar energy projects, smart metering systems, and improvements to electricity generation, transmission, and distribution infrastructure.

The ambassador expressed the United Kingdom's readiness to support the ministry's projects in these areas and to strengthen technical cooperation. Wahib instructed senior ministry staff to follow up and coordinate with the British side to develop practical steps in line with the ministry's development priorities.

(Source: Ministry of Electricity)

By John Lee.

Iraq's Ministry of Electricity has held talks with the Japan International Cooperation Agency (JICA) on plans to implement solar energy projects and expand clean energy use among households.

According to the Ministry of Electricity, the meeting was chaired by Hussein Mohammed Badr, Director General of the Planning and Studies Department, and attended by Mortada Hussein Mahdi, Director of the ministry's Renewable Energy Centre. Discussions covered the ministry's solar energy project pipeline and the contracting and grid-connection mechanisms in use.

JICA expressed interest in financing and implementing solar projects included in the ministry's plan. The agency also indicated it intends to prepare a feasibility study on financing home solar energy systems, modelled on an initiative by the Central Bank of Iraq (CBI), with the aim of broadening the use of clean energy and increasing solar power's contribution to meeting citizens' energy needs.

(Source: Ministry of Electricity)

By John Lee.

Plans for a solar power station in Najaf province are under review, with discussions under way on potentially doubling the project's capacity from 1,000MW to 2,000MW.

The proposed expansion also includes a battery energy storage system (BESS) component of 30%.

According to Iraq's Ministry of Electricity, Minister Ali Saad Wahib met with Mohammad Abunayyan, chairman of Saudi Arabia's ACWA Power, on the sidelines of the WPC Energy conference in Riyadh.

The discussions covered accelerating the submission and completion of the commercial offer for the Najaf solar investment project, as well as the possibility of drawing on ACWA Power's expertise in the management, operation, and maintenance of power generation stations. The two sides also discussed the possibility of launching a pilot project at one of Iraq's existing power stations.

(Source: Ministry of Electricity)

By John Lee.

The World Bank has discussed expanded cooperation with Iraq's Ministry of Electricity, with a focus on priority projects to develop the country's power infrastructure.

Osman Dione, World Bank Vice President for the Middle East and North Africa, met with Minister of Electricity Ali Saad Wahib at the ministry's headquarters on Wednesday. According to the ministry, discussions covered the status of World Bank-funded sector projects and priorities for the coming period, including addressing bottlenecks, developing infrastructure, and improving the efficiency of the electricity system.

The World Bank delegation expressed support for the ministry's strategic projects, particularly solar energy initiatives, citing their importance in diversifying energy sources and enhancing grid stability.

(Source: Ministry of Electricity)