Iraq initiated funding opportunities in renewable strength well worth round $6 billion geared toward reducing dependence on traditional fuels, the minister of power announced on Saturday.
Being one of the global’s largest oil producers, Iraq is accelerating its shift closer to clean strength. The authorities ambitions to generate 12 gigawatts of easy strength by way of 2030 through massive-scale sun and wind initiatives, alongside partnerships with businesses together with TotalEnergies, Masdar, and PowerChina.
Minister Ziyad Ali Fadel informed Shafaq news that the undertaking pursuits to generate 10,000 megawatts of renewable strength to be brought to the national grid, pointing out that this initiative falls inside Iraq’s broader plan to modernize its energy infrastructure, and attain energy protection.
He also referred to that the central financial institution of Iraq maintains to implement its renewable strength software, providing loans of as much as 30 million dinars (approximately $21,000) for residential units at low or no interest, with streamlined strategies through the Ministry of energy’s ‘Ur’ digital portal.
Iraq stays some of the Arab states least reliant on sustainable power, with clean assets accounting for just 1.17% of its strength by using the give up of 2024, according to the power studies Unit.
