The project will be owned by Al Bilal Group for General Contracts Limited (51%) (Al Bilal Group), Tech Project Development Group Incorporated (9%) (Tech PD Group), Enerray S.p.A. 25% (SECI/Enerray), Desert Technologies (15%).

Al Bilal Group is founded in 1993 as an Iraqi construction and EPC services company for power generation, transmission and distribution, oil & gas, water and civil/infrastructure sectors. The company has been at the forefront of the country’s reconstruction effort. The company has successfully completed more than 100 construction projects in Iraq and has evolved into one of the largest local EPC contractors in the country. Al Bilal Group is owned by two Iraqi individuals: Akeel Raouf Abdel Razzak who is the founder of the group (90%), and his son Bilal Akeel Raouf (10%).

Tech PD Group is a project development company based in the UAE. The company brings together skilled and experienced companies, utilizing combined complimentary skills to provide total energy solutions in the renewable energy, oil & gas and fossil power generation markets. The equity requirements for Tech PD’s equity contribution will be funded entirely by Al Bilal Group as payment in kind for their development work to date.

SECI Energia is founded in 2006 as the energy sector flagship of the Maccaferri Group to develop power generation projects from renewable sources such as biomass, biogas, solar, wind, hydroelectric and geothermal. SECI Energia is 100% owned by SECI S.p.A. (the Bologna, Italy based holding company of the Maccaferri Group). The Maccaferri Group was founded in 1879 and is well diversified and active in various industrial sectors, including mechanical engineering, environmental engineering, real estate, food and energy.

Enerray, founded in 2007 and fully owned by SECI Energia, is focused on design, development and management of medium and large photovoltaic power plants, both for its own plants and plants owned by third parties. In Italy, it is considered one of the leading national players in the EPC and O&M business in the PV sector. EPC and O&M services of Enerray are based on a well-established and continuously growing experience, with a total portfolio (built and under construction) of more than 600MWp.

Desert Technologies is a Saudi Arabian company operating in the renewable energy sector. Its capabilities range from manufacturing to power generation, project development and EPC contracting. The company was founded in 2012 with the purchase of the amorphous silicon module production lines, intellectual property and R&D labs of EPV Solar, the manufacturing division of Empower Energies. In February 2014, DT acquired a 100MW crystalline silicon assembly line and started installation in Jeddah, Saudi Arabia.gies. In 2013, through a strategic partnership with the Maccaferri Group, DT expanded its capabilities beyond manufacturing into power generation project development and EPC contracting.

The total project cost is up to US$48 million with an IFC A loan of up to US$12 million and syndications of up to US$26.4 million, and the balance covered by equity.