Iraq’s green energy initiatives are entering a new phase with a $6 billion investment to expand clean power generation and modernize the national electricity grid. The government announced this initiative on Saturday, signaling a major shift from traditional fossil fuels.
Minister of Electricity Ziyad Ali Fadel said the investment targets 12 gigawatts of electricity by 2030. The plan will rely on large-scale solar and wind projects developed in partnership with companies like TotalEnergies, Masdar, and PowerChina.
The program also supports residential renewable energy adoption. The Central Bank of Iraq offers loans of up to 30 million dinars, about $21,000, for households. These loans are available at low or zero interest through the Ministry of Electricity’s ‘Ur’ portal.
Currently, Iraq remains one of the Arab states least dependent on clean energy, with renewable sources contributing only 1.17% of electricity in 2024. Experts suggest this $6 billion investment could dramatically increase the share of clean power in the national grid.
Officials highlight that the initiative will improve energy security, reduce power outages, and modernize the national infrastructure. Analysts also predict the program will attract foreign investment and generate thousands of new jobs in solar and wind sectors.
Environmental benefits are also expected. Expanding clean energy will reduce Iraq’s carbon footprint while supporting long-term sustainable development.
The government aims to complete the first phase of projects by 2030. Continued public-private collaboration will be essential to achieving these goals and maximizing the impact of Iraq renewable energy initiatives.
