Scatec scraps prepare for solar projects in Iraq

• Norway-based renewables programmer Scatec ASA (OSL: SSO) has thrown out strategies to build and run two solar energy plants with a combined capacity of 525 MW in southern Iraq.

"As part of our sharp approach, we have actually decided to concentrate our initiatives on carefully chosen markets. Consequently, we have actually made a decision not to wage the projects in Iraq," Scatec informed RenewablesNow in a feedback to an inquiry.

Last week, Aliqtisad News reported, citing Iraqi elderly authorities, that Scatec had taken out from settlements with the Ministry of Electricity on the advancement of both systems, dealing a serious blow to the renewable resource passions of the Iraqi government.

According to an authorities at the Ministry of Oil that is familiar with the project, the primary factors for the withdrawal are the slow-moving procedures by the Ministry of Electricity as well as the Arab nation's unclear regulation on solar energy.

"Solar power projects are rather brand-new to the government, so it will take time to process the legislation," the official was estimated by Aliqtisad News as claiming.