Qatar Energy becomes 100% owner of Siraj Energy

Qatar Energy announced that it has signed a share purchase agreement with Qatar Electricity and Water Company (QEWC) to acquire QEWC’s 49% interest in Siraj Energy. As a result, Siraj Energy will become a wholly owned subsidiary of Qatar Energy, subject to customary approvals.
Commenting on the signing of the contract, Minister of State for Energy Saad Bin Sherida Al Kahbi, who is also President and CEO of Qatar Energy, said: This is an important step for QatarEnergy to solidify its position in the renewable energy business and to achieve its mid-term sustainability strategy goal of producing 5GW of solar power by 2035.
“This acquisition brings Qatar Energy’s total solar capacity under direct control to 1,675 megawatts (MW) and brings all utility-scale solar projects in Qatar under Qatar Energy’s direct control. Become.”
Siraj Energy was established in 2017 to finance, build, operate and maintain solar power plants in Qatar and sell solar power.
Siraj Energy holds a 60% interest in Siraj (1) and will own and operate the Al Kharsaa Solar Photovoltaic (PV) Independent Power Project.
The transaction follows the signing of the Engineering, Procurement and Construction (EPC) contract for Qatar Energy’s industrial city solar project IC Solar in August 2022. The project consists of his two large-scale solar power plants to be built in Mesaieed Industrial City and Ras Laffan. Industrial city with capacity of 417MW and 458MW respectively.
Upon completion of the acquisition, Siraj Energy is expected to be absorbed by QatarEnergy Renewable Solutions. This solution is the investment arm of QatarEnergy, which specializes in renewable and sustainable energy investments and projects.