QatarEnergy has signed a deal with Qatar Electricity and Water Company (QEWC) to acquire QEWC’s 49% interest in their joint venture Siraj Energy, making it a wholly-owned affiliate of the state energy company.
“QatarEnergy is consolidating its position in the renewables business and in delivering its sustainability strategy mid-term target of generating 5 gigawatts of solar power by 2035,” Saad Sherida Al-Kaabi, the head of QatarEnergy, who is also the country's energy minister, said.
"This acquisition brings the total solar power capacity within QatarEnergy's direct control to 1,675 megawatts (MW) and brings all utility scale solar power generation projects in Qatar under QatarEnergy’s direct control,” he added.
Siraj Energy was set up in 2017 to finance, build, operate solar power facilities and sell solar power. It has a 60% interest in Siraj (1) which owns and will operate Al-Kharsaa Solar Photovoltaic (PV) Independent Power Project, Qatar’s first and largest PV project with total installed capacity of 800 MW.
Qatar, the world's top LNG exporter, last year shifted its strategy to energy transition and is now focusing on energy efficiency technology such carbon capture and storage (CCS) and solar power.
