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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    QatarEnergy acquires 50% of Total solar project in Iraq

    Rocky
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    QatarEnergy acquires 50% of Total solar project in Iraq Empty QatarEnergy acquires 50% of Total solar project in Iraq

    Post by Rocky Tue 29 Oct 2024, 5:14 am

    QatarEnergy acquires 50% of Total solar project in Iraq

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    Qatar Energy



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    Economy News - Baghdad
    Qatar Energy, one of the world's largest suppliers of liquefied natural gas, announced on Monday that it has agreed to buy a 50% stake in TotalEnergies' solar project in Iraq, which has a maximum production capacity of 1.25 gigawatts.
    In a statement, Qatar Energy added that the French energy giant will retain the remaining 50% stake in the project, which is part of the $27 billion Iraq Integrated Gas Growth Project, without disclosing the size of the deal.
    The Iraq Integrated Gas Growth Project initiative aims to boost Iraq’s electricity supply by, among other things, conserving gas in three oil fields instead of flaring it to be used to power power plants, helping to reduce Iraq’s import bill. The initiative also includes renewable energy projects.
    Iraq currently imports between a third and 40 percent of its electricity and gas needs from Iran, but it still suffers from widespread power outages, especially in the hot summer months when demand for energy for cooling rises.
    Qatar Energy said the solar project, which will be developed in phases and will be operational between 2025 and 2027, “will be able to
    Upon completion, it will provide up to 1.25 gigawatts of peak solar power generation,” she said, noting that the project will involve the use of “two million high-efficiency bifacial solar panels.”
    The company added that the project "will be able to provide electricity to about 350,000 homes in the Basra region."
    Last year, Qatar Energy joined a consortium to implement the “Iraq Integrated Gas Growth” project, owning a 25% stake, alongside TotalEnergies with 45%, and Basra Oil Company with 30%.


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