Iraq Approves Eight Companies for Solar Energy Projects to Address Electricity Shortages

As part of Iraq's renewable energy strategy, the Iraqi Minister of Electricity, Ziyad Ali Fadel, announced that eight specialised companies have been approved to implement solar energy projects across the country.

As per the reports, this marks the first time solar energy projects are being realised in Iraq. Minister Fadel praised the Central Bank of Iraq (CBI) for its support in advancing renewable energy. The CBI will provide interest-free soft loans to residents, enabling them to install solar energy systems in their homes.

This initiative is seen as a significant step toward addressing Iraq’s ongoing electricity challenges and the persistent electricity shortages the country faces. By incorporating solar energy systems, Iraq aims to reduce dependency on traditional power sources and improve overall energy efficiency.

In line with efforts to develop the country's renewable energy sector, the Ministry of Electricity hosted a conference in October to launch an electronic platform for qualified solar energy companies. The event was attended by government officials from various ministries, representatives of the CBI, and members of the parliamentary energy committee. This platform is expected to help streamline and facilitate the implementation of solar energy solutions across Iraq.

This announcement signals a positive shift for Iraq’s energy future, with solar energy poised to alleviate the country’s electricity issues, improve living standards, and foster sustainable development. The move is also anticipated to contribute to job creation and energy security for Iraq's future.