QatarEnergy, a state-owned petroleum company, has signed a share sale and purchase agreement with Qatar Electricity and Water Company (QEWC) in order to acquire QEWC’s 49 percent interest in Siraj Energy.

As a result of the agreement, Siraj Energy will become a wholly owned affiliate of QatarEnergy, subject to customary approvals.

Siraj Energy was established in 2017 with the purpose of financing, building, operating, maintaining solar power facilities, and selling electricity generated from solar power, within the State of Qatar.

According to the statement, “Siraj Energy has a 60 percent interest in Siraj, which owns and will operate Al-Kharsaa Solar Photovoltaic (PV) Independent Power Project, Qatar’s first and largest PV project with a total installed capacity of 800 MW.”

According to the statement, it is expected that upon closing of this acquisition, Siraj Energy will be absorbed within QatarEnergy Renewable Solutions, which is QatarEnergy’s investment arm specializing in renewable and sustainable energy investments and projects.

In September, QatarEnergy selected TotalEnergies as the first international partner in the North Field South (NFS) expansion project.