Iraq Looking For New Solar & Wind Energy Investors
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The government of Iraq is aiming to attract new foreign investors for the creation of 3 large-scale solar energy projects and a wind energy project, according to recent reports.
As a means of attracting these potential investors, the government there is offering various tax + fee exemptions as incentives, as well as offering substantial help during the licensing, approval, implementation, and operation processes. Also worth noting: any potential investors will reportedly retain the right to repatriate capital + revenue + workers following on the payment of financial dues.
The 3 planned solar energy projects are all between 5 and 10 megawatts (MW) in capacity (not very big). The wind energy project mentioned above is planned to fall under a similar capacity bracket, being somewhere between 5 and 10 MW in capacity (again, not very big, and could amount to a single turbine at that size).
According to the Iraqi Ministry of Electricity and the National Investment Commission (NIC), the 3 solar plants will be developed in the provinces of Diwaniya and Najaf, and the wind energy project will be built on the province of Misan.
The plan is apparently for two of the solar projects to be constructed at two different sites in Diwaniya — one which covers an area of 12.5 hectares, and one which will be between 12.5 and 15 hectares in size. The planned solar facility in Najaf will reportedly be around 50 hectares in size.
Investors that are interested are supposed to submit a letter of interest to the NIC within the next ~30 days (following the announcement, not this article). This letter of interest is supposed to contain a project feasibility study, engineering plans, and financing details.
Image Credit: Public Domain
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