Exclusive: A massive American renewable energy project revealed in Iraq
Exclusive: A massive American renewable energy project revealed in Iraq
2026-07-17
Shafaq – Washington
Adam Cortese, CEO of the US renewable energy companies Sun Africa and UGTR, revealed on Friday that the executive steps have begun to develop a strategic solar energy project in Iraq in cooperation with the Iraqi Kar Group, confirming the opening of an office in Baghdad to manage the planned project.
Speaking to Shafaq News on the sidelines of the joint business summit in Washington, D.C., Cortizi said that the relationship and history between the United States and Iraq made him not necessarily expect to be received with great warmth, adding: “But we were indeed received with open arms, and we feel very comfortable not only with our local partner, but also with the Iraqi government.
Cortese explained that there is a genuine mutual desire to work with American companies and attract their investments, noting that the volatile and turbulent conditions in Iraq’s neighborhood make the move towards diversifying energy sources and moving away from dependence on Iranian gas a very logical and justifiable step.
He added: “A strong energy base cannot be built unless it is diversified, so complete reliance on thermal and conventional resources is not the direction we are heading in the 21st century, and the Iraqi government has done a great job in realizing this and striving for diversification.”
Regarding the nature of the project, Cortizi revealed the signing of a memorandum of understanding and a strategic partnership with the KAR Group, confirming: “We now have an office in Baghdad as we progress with this project,” indicating that the project is still in the development phase and that technical, legal, and financial feasibility studies are being prepared.
He pointed out that what distinguishes his company’s investment offer is that it bears all the risks and initial expenses of preparing these studies at no cost to the Iraqi side, in order to design solutions that suit the precise needs of the Iraqi government, with the final decision to be left to it later in signing the commercial contract to move forward, stressing that the two companies are committed to bringing full financing for the project with them.
Cortese stressed that the oil and gas sector will remain present, but solar energy has become the most viable and economical solution compared to traditional thermal power plants thanks to the significant decrease in the prices of solar panels and batteries, as well as the fact that the Middle East region enjoys very high rates of solar radiation.
An informed source revealed to Shafaq News Agency last Tuesday that Iraq will sign more than 18 agreements with the United States in various fields, including politics, economy, industry, energy, oil, education, health, investment and armament.
This comes as part of the agenda of the official visit that began last Monday by Prime Minister Ali al-Zaidi and his accompanying delegation, which included a number of ministers, senior officials, investors, business owners, and Iraqi capitalists.
Last Tuesday, during his meeting with al-Zaidi at the White House, US President Donald Trump announced that this week would see the unveiling of a major oil partnership with Iraq, in addition to extensive trade deals in various sectors.
shafaq.com
