RIYADH: Iraq is in talks with Masdar to implement solar energy projects targeting an electricity capacity of up to 2 gigawatts, Oil Minister Ihsan Abdul Jabbar told Asharq Business.
There are also discussions with Saudi ACWA Power, to implement renewable energy projects, he added.
"It is expected to sign contracts for renewable energy until 2025 targeting the production of between 10 and 12 gigawatts, representing about 25 percent of Iraq's electricity needs, which exceed 40 gigawatts," he said.
"We are working on a full entry into this production of energy gradually until 2030," he added.
An agreement was signed with Total to implement renewable energy projects in the southern and central regions aimed at generating electricity equivalent to 1 gigawatt, which has entered into force, the minister said.
Production is expected to start at about 500 megawatts by the end of 2022, with the stations implemented by Total reaching full production capacity during the year 2023.
Projects to generate electricity from solar energy in Karbala and Alexandria with a capacity of 525 megawatts were approved with a Norwegian company, according to Abdul Jabbar.
Other projects were awarded to small companies in Muthanna, Samawah and Al-Khidr, bringing the total energy generated from those projects to 750 megawatts, he said.
Iraq is in talks with Saudi and UAE firms to deliver clean energy, minister says
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Iraq is in talks with Saudi and UAE firms to deliver clean energy, minister says
- There are also discussions with Saudi ACWA Power, to implement renewable energy projects
Closing Bell: Saudi main market sheds 85 points to finish at 11,098
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06.
The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.
Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).
Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.
Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30.
On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.
Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50.
On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.
The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.
The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.
The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session.
Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.
Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.
Tadweer shares last traded at SR3.80, up 2.70 percent.
