On November 19th, Sinoma (stock code 600970) made a significant announcement. Its wholly-owned subsidiary, Sinoma (Suzhou) Construction Co., Ltd., has reached a milestone by signing a general contracting contract with Iraq's MASS Renewable Energy Production Company. The contract pertains to the ambitious Kut 1000MW solar power project.
On November 19th, Sinoma (stock code 600970) made a significant announcement. Its wholly-owned subsidiary, Sinoma (Suzhou) Construction Co., Ltd., has reached a milestone by signing a general contracting contract with Iraq's MASS Renewable Energy Production Company. The contract pertains to the ambitious Kut 1000MW solar power project.
Valued at a staggering $352 million, this deal is set to have a substantial impact on the renewable energy landscape in the region. The project is anticipated to have a construction period of no less than 21 months. This development not only showcases the growing international footprint of Chinese companies in the renewable energy sector but also underlines Iraq's efforts to diversify its energy sources and embrace clean energy alternatives.
Industry observers are closely watching this project as it unfolds, as it could potentially serve as a model for future large-scale solar power collaborations between different countries and companies. The successful completion of the Kut project is expected to contribute significantly to Iraq's energy supply and potentially reduce its dependence on traditional fossil fuels, while also providing valuable experience and technological know-how in the field of solar power generation for both parties involved.