The deal, made with the UAE-based Masdar company, will generate 2000 megawatts of electricity through solar energy projects in central and southern Iraq.
Iraq is working to replace 20-25 percent of energy produced by fossil fuels, or 10 to 12 kilowatts, with clean energy, he said.
The UAE Minister of Energy and Infrastructure, Suhail al-Mazrouei, expressed his government's support for bilateral cooperation projects in development of clean energy in Iraq, the statement added.
Suha Al-Najjar, the head of the National Investment Authority, revealed Iraq’s plans to sign more contracts of a similar nature.
In February, the Iraqi government allocated seven sites for implementing solar energy investment projects in a number of governorates, the largest of which is in Karbala with, a capacity of 300 megawatts. Others are located in Wasit and Babil.
Iraq's economy depends on the sale of crude oil, and most of the energy produced or imported from neighbouring countries is derived from fossil fuels.
