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Dollar Prices Rise in Baghdad and Erbil Markets

The US dollar exchange rate in Iraq climbed higher on Monday as trading opened in Baghdad and Erbil. The increase reflects ongoing pressure in local currency...
HomeBusinessIraq Grants First Solar Power Investment License to TotalEnergies

Iraq Grants First Solar Power Investment License to TotalEnergies

Iraq’s National Investment Commission (NIC) has awarded its first solar power investment license for a 1,000 MW project to France’s TotalEnergies, marking a key milestone in the country’s push towards renewable energy.

NIC Chairman Dr. Haider Mohammed Makiyya confirmed that construction has started at the Ratawi (Artawi) oilfield in Basra, following the project’s financial closure. The 9,000-dunam facility will feature two million solar panels across four generation units.

The NIC is also finalizing the requirements for a second 1,000 MW solar license for an Emirati company, with planned projects in southern and western Iraq.