Qatar’s UCC Holding signed $7B Syria power deal for 5 GW

Qatar-headquartered UCC Holding signed a $7 billion MoU with the Syrian government. The consortium included Power International USA, Kalyon Energy, and Cengiz Energy. The agreement covered four gas turbine plants with a total capacity of 4 GW. It also included a 1 GW solar power plant in southern Syria. Construction was set to begin after final agreements and financial close. The gas plants were planned for completion in three years. The solar plant was expected to be finished in less than two years. The projects followed Build-Own-Operate (BOO) and Build-Operate-Transfer (BOT) models. The signing took place in Damascus. Officials from Syria, Qatar, Türkiye, and the US attended. The projects aimed to restore electricity, support recovery, and meet over 50% of national demand.