Iraq plans nuclear power plants to tackle electricity shortage

Iraq is planning to build eight nuclear reactors to tackle a crippling power shortage in the oil-rich economy.

Iraq is working on a plan to build nuclear reactors as the electricity-starved petrostate seeks to end the widespread blackouts that have sparked social unrest. OPEC’s No. 2 oil producer – already suffering from power shortages and insufficient investment in aging plants – needs to meet an expected 50% jump in demand by the end of the decade. Building atomic plants could help to close the supply gap, though the country will face significant financial and geopolitical challenges in bringing its plan to fruition. Iraq seeks to build eight reactors capable of producing about 11 gigawatts, said Kamal Hussain Latif, chairman of the Iraqi Radioactive Sources Regulatory Authority. It would seek funding from prospective partners for the $40 billion plan and pay back the costs over 20 years, he said, adding that the authority had discussed cooperation with Russian and South Korean officials.