to-the-point: Qatar Petroleum, QEWC to form solar JV

Qatar Petroleum (QP) and Qatar Electricity and Water Company (QEWC) have signed a memorandum of understanding (MOU) for the formation of a solar power joint venture (JV).

Under the plan, QEWC will take a 60% stake in the new company and the remaining 40% will be held by Qatar Petroleum. Specific details on the JV capital and investment plans were not disclosed.

The Qatar Electricity and Water Company plans to reach a capacity of about 11 GW in the first half of 2018, as compared to 8.6 GW currently. The solar MOU comes in line with efforts to diversify Qatar's energy mix and increase the use of renewables.

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