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QatarEnergy, will acquire a 49% stake in Qatar Electricity & Water Co.'s state-backed solar power entity Siraj Energy.  This transaction is set to result in Siraj Energy being absorbed within QatarEnergy Renewable Solutions, the state energy firm’s renewable investments arm.  They awarded the engineering, procurement and construction contract to South Korea's Samsung C&T for two solar PV plants with a total combined capacity of 875MW, in August.  Expected to complete by the end of 2024, the electricity generated by the two plants will be partly used for QatarEnergy's liquefied natural gas production expansion.  The 2.3 billion Qatari riyal ($632m) contract aligns with Qatar's goal to generate up to 5,000MW of solar power by 2035.

QatarEnergy acquires solar power Siraj Energy stake

QatarEnergy, will acquire a 49% stake in Qatar Electricity & Water Co.’s state-backed solar power entity Siraj Energy.  This transaction is set to result in Siraj Energy being absorbed within QatarEnergy Renewable Solutions, the state energy firm’s renewable investments arm.  They awarded the engineering, procurement and construction contract to South Korea’s Samsung C&T for two solar PV plants with a total combined capacity of 875MW, in August.  Expected to complete by the end of 2024, the electricity generated by the two plants will be partly used for QatarEnergy’s liquefied natural gas production expansion.  The 2.3 billion Qatari riyal ($632m) contract aligns with Qatar’s goal to generate up to 5,000MW of solar power by 2035.

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