The Syrian government, under the patronage of its president Ahmed Al Sharaa, signed a strategic Memorandum of Understanding with a consortium of international companies led by Qatar’s UCC Holding to develop major power generation projects, with a foreign investment valued at approximately $7bn.

The initiative aligns with the national agenda to rebuild Syria’s core infrastructure, enhance energy security, and support economic development. It reflects the President’s clear direction toward establishing a development model based on self-reliance, regional cooperation, and long-term sustainability.

The signing ceremony took place in Damascus, in the presence of US Special Envoy for Syria Tom Barrack, Chargé d'Affaires of Qatar’s Embassy in Damascus Khalifa Abdullah Al Mahmoud Al Sharif and Turkish Ambassador to Syria Burhan Koroglu.

The agreement was signed by UCC Holding Chairman Mohamed Moutaz Al Khyyat, Cengiz Energy Chairman Mehmet Cengiz, Kalyon Energy Chairman Orhan Cemal Kalyoncu and Power International USA’s CEO Mazen Al Sbeti.

A number of other top officials from the different companies also attended the signing ceremony.

The consortium, led by UCC Holding’s subsidiary UCC Concessions Investment, includes Power International USA LLC, Kalyon GES Enerji Yatırımları AS, and Cengiz Enerji San. ve Tic. AS.

This strategic alliance reflects the vision and leadership of HH The Amir Sheikh Tamim bin Hamad Al Thani in supporting Syria’s economic recovery and contributing to the reconstruction of a renewed Syrian state through impactful initiatives aimed at energizing the national economy and advancing the country’s path toward power self-sufficiency.

The agreement will cover the development of four combined-cycle gas turbine (CCGT) power plants in Traifawi (Homs), Zayzoun (Hama), Deir-Azzour, and Mehardeh (Hama), with an approximate installed generation capacity of 4,000 MW, using American and European technologies, and a 1,000 MW solar power plant in Wedian Alrabee, located in the southern region of Syria.

These projects will be implemented under the Build-Own-Operate (BOO) and Build-Operate-Transfer (BOT) models, with corresponding power purchase agreements. Construction is expected to begin following final agreements and financial close, with completion targeted within three years for the gas plants and less than two years for the solar plant.

“This agreement represents a landmark step in Syria’s path to reconstruction and energy security. As President Trump said, we’re working with our partners for a prosperous and stable Syria at peace with itself and its neighbours. This partnership is a key step towards that goal, along with the President’s lifting of US sanctions against Syria,” said Tom Barrack.

“This consortium, led by Qatar, will promote stability, infrastructure development, and economic recovery and deliver tangible results for the Syrian people. As President Trump has said, and Secretary Rubio is implementing, our goal is to enable commerce, not chaos,” he added.

Syrian Energy Minister Mohammed Al Bashir said: “This agreement marks a crucial step in Syria’s infrastructure recovery plan. It’ll strengthen our national grid, expand access to electricity, and help meet growing demand through partnerships that combine international expertise with local priorities.”

UCC Holding’s President and Group CEO Ramez Al Khayyat said: “This MoU reflects our vision for sustainable and impactful infrastructure development in the region. We’re proud to lead this initiative through our concession arm, in collaboration with our consortium partners. These projects represent a model of effective public-private partnership, integrating both conventional and renewable power solutions to support Syria’s energy transition and long-term economic resilience.

Upon completion, the projects are expected to supply over 50% of Syria’s national electricity needs, representing a transformative leap toward energy security, economic revival, and infrastructure resilience.

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