Iraq Is On The List: The 5 Largest Electricity Deals In April 2025
Energy Economy News – Follow-up Algeria topped the list of the top five electricity deals in April 2025, with various important projects, according to a monthly report prepared by Energy Platform.
The North African country topped the list, thanks to a number of significant deals and projects concluded in April 2025, ranging from electricity storage to the construction and development of power plants.
Meanwhile, Iraq competed in the top five electricity deals of April 2025, thanks to a number of significant projects. This included the largest deal in the history of this important sector, ensuring the country’s goal of providing reliable and safe energy to its citizens is achieved.
The United Arab Emirates joined the list of the top five electricity deals in April 2025, thanks to a significant acquisition of one of the largest companies specializing in developing electricity transmission projects. Saudi Arabia also entered the list with a significant deal. Here’s the full text of the report:
Electricity Storage In Algeria
Algeria’s electricity storage sector topped the list of the top five electricity deals in April 2025, thanks to an agreement signed by the Ministry of Energy, Mines, and Renewable Energy to develop and strengthen the battery industry by developing the lithium division.
Under the agreement, details of which were reviewed by the specialized energy platform, an integrated strategic project will be implemented, including the valuation of national mineral resources (lithium, iron, and phosphate), ensuring support for the country’s electricity storage sector.
This agreement was signed between the National Office for Geological and Mining Research (ORGM), representing the Sonaram group, and Professor Karim Zaghib, an international expert in the field of lithium-iron-phosphate batteries, one of the most important operators in this sector.
Developing A Project That Has Been Stalled For Years
By developing a project that had been stalled for years, Algeria maintained its position at the top of the list of the top five electricity deals in April 2025. Sonelgaz, the Algerian Electricity and Gas Company (Egyptian Electricity and Gas Company), announced that it had reached a preliminary agreement to develop a power plant in Ain Oussera, Djelfa province.
According to what the specialized energy platform has seen, the proposal of the Spanish company “DURO FELGUERA” to award the remaining work of the project to build the Ain Oussara power plant in the state of Djelfa to a Chinese alliance consisting of three companies has been approved.
From The Implementation Works Of The Djelfa Power Plant – Archive
Sonelgaz explained that the agreement obligates the Chinese consortium, consisting of three companies: CPECC-APCC-NWEPDI, to gradually operate the power plant starting in the ninth month following the final agreement.
It’s worth noting that the Spanish company entered the pre-bankruptcy phase in December 2024, having halted construction of a giant power plant in Algeria since June 2024.
Battery Storage In Saudi Arabia
Saudi Arabia ranked among the top five electricity deals in April 2025, thanks to a major deal that launched the second phase of a battery-powered electricity storage system. The deal, with investments exceeding SAR 6.73 billion and a capacity of 2.5 gigawatts, saw the Saudi Electricity Company sign purchase contracts with several companies.
Under the deal, this phase includes five projects, distributed across Riyadh, Qaisumah, Al-Jawf, Al-Dawadmi, and Rabigh. These projects are part of the National Renewable Energy Program, supervised by the Ministry of Energy, to enable the proportion of renewable energy capacity in the total electricity mix to increase to 50% by 2030.
The Saudi Electricity Company (SEC) signed purchase contracts with China’s BYD and Al Fanar Projects to supply and build storage systems with a capacity of 500 megawatts and a capacity of 2,000 megawatt-hours for each of the five sites.
The Largest Deal In Iraq’s History
Baghdad occupied a significant position on the list of the top five electricity deals in April 2025, thanks to the largest deal in Iraq’s history. This deal was the signing of a memorandum of understanding (MoU) with GE Vernova, under the framework of cooperation principles, which includes projects for combined-cycle gas-fired power plants with a capacity of approximately 24,000 megawatts.
From the signing ceremony of the largest electricity deal in Iraq’s history – Photo courtesy of the Ministry of Electricity
According to the memorandum of understanding, reviewed by the specialized energy platform, external financing can be secured from international banks to develop and maintain existing power plants, in addition to constructing new plants to increase generating capacity.
The American company will implement the projects in three phases, spanning the next four years, including improvements to the efficiency of existing generating units and the introduction of modern technologies to increase production without the need for additional fuel.
Emirati Acquisition Deal
The UAE joined the list of the top five electricity deals in April 2025, thanks to a deal in which Abu Dhabi National Energy Company (TAQA) acquired 100% of Transmission Investments (TI), a leading UK-based energy and utilities investment platform.
Under the deal, the Emirati company acquired a significant stake in the marine electricity transportation sector, particularly as the British company is one of the largest operators of marine electricity transportation assets and connects offshore wind power plants to the UK’s electricity grid.
This deal will strengthen the Emirati company’s position in this important sector, as TI will become part of TAQA Transmission Networks and provide a highly skilled and experienced team of 40 individuals.
190 views Added 05/08/2025 – https://economy-news.net/content.php?id=55254
Globally, Gold Continues To Decline.
Time: 2025/05/08 09:30:35 Read: 1,770 times {Economic: Al Furat News} Gold prices continued their losses during trading on Thursday, despite the US Federal Reserve’s warning of increased risks to rising inflation.
In trading, gold futures fell by about 0.8% to $3,364.9 per ounce.
The yellow metal had fallen by more than 1% after the US Federal Reserve decided to hold interest rates steady. However, the US central bank announced that it had identified increased risks of rising unemployment and inflation.
Federal Reserve Chairman Jerome Powell stated that tariffs are larger than expected, and that if the large tariff increases continue as announced, “we will see higher inflation and lower employment.”
However, Powell stressed that the current economic situation does not permit a preemptive interest rate cut, and that the president’s calls for a rate cut do not affect their work within the Fed at all. LINK
asra Oil Prices Rise In Global Markets
Energy Economy News – Baghdad Basra Heavy and Medium crude oil prices rose despite stable global oil prices.
Basra Heavy crude prices rose 49 cents to $60.41, while medium crude prices rose 49 cents to $63.56.
Global oil prices stabilized after falling by more than a dollar in the previous session. Brent crude reached $61.12 today, while US crude reached $58.12 per barrel. 139 views Added 05/08/2025 – https://economy-news.net/content.php?id=55243
The Dollar Continues To Decline Against The Dinar In Baghdad
Stock Exchange Economy News – Baghdad The US dollar exchange rate fell against the Iraqi dinar on Thursday morning in Baghdad markets.
The dollar exchange rate fell on Baghdad’s two main stock exchanges, Al-Kifah and Al-Harithiya, to 142,000 dinars per $100. On Wednesday morning, the dollar exchange rate was 143,400 dinars per $100.
Selling prices at exchange offices in Baghdad’s local markets recorded a decline, with the selling price reaching 143,000 dinars for $100, and the buying price reaching 141,000 dinars for $100.
233 views Added 05/08/2025 – https://economy-news.net/content.php?id=55247
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