[SMM PV News] India SECI Auctions 1.2 GW Renewable-Storage Projects

Trial operations have commenced at the 1 GW Basra solar power plant, Iraq's first gigawatt-scale PV project. Currently, 61 MW of the first 250 MW unit is active, with full grid connection planned once the unit reaches its peak capacity. Developed by a consortium of TotalEnergies (45%), Basrah Oil Co. (30%), and QatarEnergy (25%), the 900-hectare facility aims for full commissioning by 2028 to power 350,000 homes. This marks a massive leap for Iraq, which had only 42 MW of solar in 2024, as it targets 12 GW of solar capacity by the end of the decade.

Greece expects to curtail up to 3.7 TWh of renewable energy in 2026, a 75% increase from 2025, pushing curtailment rates to 12% of total green generation. Last year's grid congestion and negative prices already caused ~20% revenue losses for PV producers. While pairing solar with battery storage is the clear solution, domestic banks are currently refusing to finance these projects due to a lack of reference sites. Despite 900 MW of subsidized storage not yet operational, investors are now targeting a 4.7 GW pipeline of 'merchant-style' standalone batteries. However, flat domestic demand and unresolved regulatory frameworks continue to pose risks.

The Iraqi Customs Authority slashed tariffs on solar systems—including PV panels, inverters, cables, and lithium batteries—from 33% to 5%. This move aligns with the Central Bank's recent IQD 6 billion ($4.6 million) loan initiative to boost clean energy uptake. Despite high solar irradiance, Iraq's cumulative capacity was just 42 MW at the end of 2024, a lag officials attribute to 'weak awareness'. However, progress is expected through upcoming utility-scale developments, including the 300 MW Karbala plant and TotalEnergies' planned 1 GW project.