Recently, under the witness of Syria’s interim President Ahmed Al-Sharaa, the Syrian government officially signed a Memorandum of Understanding (MoU) with a consortium of international partners. The consortium is led by Qatar’s UCC Holding and includes firms from the United States, Turkey, and Qatar, to jointly advance a large-scale power project with a total investment of $7 billion. This move is regarded as a crucial opportunity for the reconstruction and revitalization of Syria’s energy system.
Upon completion, the project is expected to cover over 50% of Syria’s national electricity demand, fundamentally alleviating the long-standing power shortages in the country. Syrian Energy Minister Mohammad Al Bashir stated at the signing ceremony, “This is a historic moment for Syria’s energy industry, marking a new starting point for rebuilding our key national infrastructure. The project not only enhances regional cooperation in the energy field but also promotes the adoption of clean and renewable energy sources.”
Ramez Al Khayyat, CEO of UCC Holding, expressed confidence in the project, saying, “This agreement marks a new phase in rebuilding Syria towards self-sufficiency and sustainable development. We will utilize the latest energy equipment and technologies to energize Syria’s future.”
Syria, ravaged by years of war, has seen its electricity generation capacity decline from 9.5GW in 2011 to just 1.6GW today, according to UN estimates. Rebuilding the entire power grid would require billions of dollars. The signing of this $7 billion power project undoubtedly brings a ray of hope for Syria’s energy reconstruction.
Notably, during a recent visit to the Gulf, U.S. President Trump announced the lifting of sanctions on Syria, followed by the European Union’s announcement that it would begin gradually easing sanctions (though restrictions on the former Bashar al-Assad regime remain in place).
For Syria, the signing of this power project is not only a major breakthrough in the energy sector but also an important step towards stability, security, and economic recovery. As the project progresses, Syria is expected to gradually overcome its power shortages, providing strong support for industrial production and residents’ daily lives. Additionally, the implementation of the project will drive the development of related industries, create a large number of job opportunities, and promote Syria’s economic recovery and growth.
