Syria advances Qatar-backed $7B power project amid soaring electricity prices
According to the state-run Syrian Arab News Agency, the plants will use a combination of natural gas and solar energy.
Syria’s Ministry of Energy signed final agreements on Thursday with a consortium of foreign companies, led by Qatar’s UCC Holding, to build four new power plants with a total capacity of 5 gigawatts, a major investment push that comes just weeks after the government hiked electricity prices more than sixfold.
What happened: The state-run Syrian Arab News Agency reported that the plants will use a combination of natural gas and solar energy, citing a statement from the Ministry of Energy on its official Telegram channel.
The projects include the construction of a 1.2 GW plant in northern Aleppo, one plant each in Deir Ezzor and Zayzoun with a capacity of 1 GW each, and an 800 megawatt plant in Mahardah. Solar projects totaling 1 GW will also be developed across four locations, though the ministry did not specify where.
The initial $7 billion deal was signed in May with a consortium led by UCC involving Turkish companies Kalyon GES Enerji Yatirimlari, Cengiz Enerji and the US-based Power International US. The agreement was nonbinding since it was only a memorandum of understanding. The parties disclosed no further project details.
