Masdar is planning to build a photovoltaic solar power plant in Iraq with an output capacity of 1,000 megawatts (MW) in the first phase.
Officials from the UAE company discussed the project with Iraqi Electricity Minister Ali Fadil in Baghdad on Thursday, the Iraqi News Agency said on Friday.
It quoted Fadil as saying after the meeting that the project would be referred to the cabinet for approval and tax exemptions for the investor.
He did not mention project costs or location, but Iraq has awarded contracts to a number of foreign firms over the past months for the construction of photovoltaic solar parks with a combined generation of 7,500 MW.
Baghdad has signed other contracts for the construction of solar power plants with Total of France and other firms with a total output of 7,500 MW.
Officials said in 2021 such projects would expand renewable energy sources to nearly 33 percent of the total energy mix by 2030 and that total solar photovoltaic production could reach 12,000 MW in 2030.