Syria's Energy Ministry Signs MOUs With UCC Holding-Led Consortium for a $7 Billion Power Build-Out
Syria’s Ministry of Energy, the Syrian counterparty, signed memoranda of understanding with each of UCC Holding Group, Urbacon Trading & Contracting Company, Power International, Cengiz Energy, and Kalyon Energy. Energy Minister Mohammad al-Bashir gave the investment value as $7 billion, for gas and solar power plants.
UCC’s release says construction is expected to begin following final agreements and financial close, under the corresponding power purchase agreements.
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[1]
In the presence of President Sharaa, Energy Ministry signs MOU with international companies
— Syrian Arab News Agency (SANA)
· May 29, 2025
Tier 1
[2]
With a foreign investment valued at $7 billion, the Syrian government has signed a strategic MOU with a consortium led by UCC Holding (company release)
— UCC Holding
· May 29, 2025
Tier 1
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The Cascade Ledger. “Syria's Energy Ministry Signs MOUs With UCC Holding-Led Consortium for a $7 Billion Power Build-Out.” The Capture Cascade Timeline, May 29, 2025. https://capturecascade.org/event/2025-05-29--syria-energy-ministry-signs-mous-ucc-holding-consortium-7-billion-power-plants/