Iraq, UAE Sign Contract to Build 5 Solar Power Stations

FILE: Solar installers from Baker Electric place solar panels on the roof of a residential home in Scripps Ranch, San Diego, California, US October 14, 2016. REUTERS/Mike Blake/File Photo
FILE: Solar installers from Baker Electric place solar panels on the roof of a residential home in Scripps Ranch, San Diego, California, US October 14, 2016. REUTERS/Mike Blake/File Photo
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Iraq, UAE Sign Contract to Build 5 Solar Power Stations

FILE: Solar installers from Baker Electric place solar panels on the roof of a residential home in Scripps Ranch, San Diego, California, US October 14, 2016. REUTERS/Mike Blake/File Photo
FILE: Solar installers from Baker Electric place solar panels on the roof of a residential home in Scripps Ranch, San Diego, California, US October 14, 2016. REUTERS/Mike Blake/File Photo

Iraq has signed a contract with a United Arab Emirates-based renewable energy developer to build five solar power plants in the oil-rich country with a chronic energy problem, the company said Thursday.

The signing took place in Baghdad Wednesday between Iraqi officials and the chief executive officer of Masdar, in the presence of Iraqi Prime Minister Mustafa al-Kadhimi.

The agreement calls for the plants - with a combined capacity of 1,000 megawatts - would be developed in the provinces of Dhi Qar in southern Iraq, Ramadi in central Iraq, Mosul in the north and Amarah in the southeast, Masdar said, The Associated Press reported.

“This step is the first practical stage taken by the (Iraqi) government to rely on alternative, clean and renewable energies in the production of electrical energy, and to meet Iraq’s energy needs,” an Iraqi statement posted on the state-run news agency INA said late Wednesday.

Iraq hopes the agreement would help mitigate its energy supply gap. The country is a major oil producer with plentiful energy resources, but Iraq suffers daily power outages across the country due to rampant corruption, an aging grid and other technical issues.



Saudi and Qatari Finance Ministers Sign Cooperation MoU

Saudi Minister of Finance Mohammed Aljadaan and Qatari Minister of Finance Ali bin Ahmed Al Kuwari signed an MoU to cooperate in the finance sector. SPA
Saudi Minister of Finance Mohammed Aljadaan and Qatari Minister of Finance Ali bin Ahmed Al Kuwari signed an MoU to cooperate in the finance sector. SPA
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Saudi and Qatari Finance Ministers Sign Cooperation MoU

Saudi Minister of Finance Mohammed Aljadaan and Qatari Minister of Finance Ali bin Ahmed Al Kuwari signed an MoU to cooperate in the finance sector. SPA
Saudi Minister of Finance Mohammed Aljadaan and Qatari Minister of Finance Ali bin Ahmed Al Kuwari signed an MoU to cooperate in the finance sector. SPA

Saudi Minister of Finance Mohammed Aljadaan and Qatari Minister of Finance Ali bin Ahmed Al Kuwari have signed an MoU to cooperate in the finance sector.

The MoU was signed Thursday on the sidelines of the 122nd meeting of the Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee in Doha, Qatar.
‏Aljadaan said that the MoU is part of efforts to strengthen relations between Saudi Arabia and Qatar in the finance sector, including microeconomic policy, public sector laws, and legislation to enhance economic growth in the region.
‏Al Kuwari noted the importance of the MoU and its potential impact in exchanging expertise and information in the finance sector to enhance and strengthen relations between the two nations.