Power

In recent days, the Ministry of Energy has made public several deals with foreign companies to build solar energy plants with a combined capacity of 1,120 MW. In the first half of 2026, renewable energies contributed to 10 percent of the electricity generated, according to the ministry’s latest figures.

The first US-Syria Business Forum, held on Monday at the Dama Rose Hotel in Damascus,  brought together senior Syrian officials, representatives of U.S. companies and business leaders in Damascus, reflecting growing momentum behind efforts to rebuild commercial ties between the two countries.

U.S. bank JP Morgan Chase, Qatar National Bank and Abu Dhabi Commercial Bank are set to lend USD 7 billion to the Qatari Power International Holding - owned by the influential Khayyat family - to build several energy and transport infrastructure projects in Syria, according to unnamed sources quoted by Bloomberg.

Renewable energy represents a minor share of Syria’s electricity output, but its role is expanding: between 2024 and 2025, the installed capacity of off-grid solar has increased from 1,500 megawatts (MW) to 2,060 MW, and solar energy systems are increasingly being implemented to support water supply.

Following the fall of the Assad regime at the end of 2024, the areas that formerly were under regime control witnessed a shift from a tightly controlled monetary environment to one where the U.S. dollar has penetrated multiple layers of economic and administrative life. 

During the Eid Al-Fitr celebrations last Friday, Syria’s Transitional President Ahmad Al-Sharaa announced that the country’s GDP grew between 30 and 35 percent in 2025 and projected that this year GDP will return to pre-conflict levels. In parallel, the Minister of Finance, Mohammad Yusr Barniya, announced that the 2026 budget totals USD 10.5 billion, a stark increase from the USD 3.5 billion budget from last year. Neither Mr Sharaa, nor Mr Barniya, explained the methodology used to produce these numbers. The GDP data, in particular, appears particularly disconnected from reality.

On February 11, the Ministry of Energy announced that the Public Establishment for Transmission and Distribution of Electricity (PETDE) signed an agreement with MARV Energy aimed at launching a 700 megawatt (MW) wind power project. According to the official announcement, the project seeks to install 140 locally manufactured wind turbines across several sites within Syria and connect them to the state electricity grid. If implemented as outlined, this would represent one of the largest renewable energy initiatives in Syria.

Last week, Italy and Norway announced a USD 10.7 million project to rehabilitate Deir Ali II Power Plant, and Japan announced a USD 12.4 million project to implement repair works in Jandar Power Plant. Both projects will be implemented via the UN Development Program (UNDP) in partnership with the Ministry of Energy.

In the Autonomous Administration in North and East Syria (AANES) region, energy needs stand at around 1,340 megawatts (MW), but local production, from the Suweidiyeh and Jbeisse power plants and the two power plants at the Euphrates and Tishreen dam, only generates between 150 and 175 MW, several AANES officials told The Syria Report. 

Around 90 local, regional, and international companies took part in the first edition of the Syria International Oil, Gas and Energy Exhibition (SOG), held in Damascus between December 3 and 6. The largest foreign presence came from Saudi Arabia, with eight participating companies. Italy followed with seven companies, and the United Arab Emirates with three.

The Ministry of Energy is in talks with major U.S. energy player Chevron; Conoco Phillips and Novaterra have signed a Memorandum of Understanding (MoU) to develop existing gas fields and to explore new fields; UAE-based Dana Gas has signed a MoU to explore natural gas fields; and Serbian Elixir Group is preparing to enter in the phosphate sector. 

The Syrian government announced a significant adjustment to electricity tariffs at the end of October, representing the most substantial increase in household energy costs in the country’s modern history.

The Syrian-Turkish Electric Power Company (STE) will build the solar power plant in Kafr Behem in the next 12 months.

The recent agreement on the export of more than one billion cubic metres of natural gas per year from Azerbaijan to Syria showcases the increasing importance of Baku’s role on the Syrian scene. The gas, extracted from the large Shah Deniz field, reached Aleppo on Saturday through Turkey via the Killis pipeline. 

This month, Syrian authorities have met with several U.S. companies interested in developing and investing in the country’s energy sector.

The World Bank formally approved last week its first grant to Syria since 2011, focusing on the electricity sector. The project is one of many targeted at improving the country’s energy infrastructure, which is repeatedly mentioned by businessmen as a major obstacle to investment and by refugees as a key obstacle to return.

On May 29, a Qatar-led international consortium signed a USD 7 billion deal with the Syrian government to build four gas plants and one solar energy plant with a total production capacity of 5,000 megawatts (MW). The consortium is led by Qatari group UCC Holding and includes two Turkish companies and a US-based company.

Since the beginning of May, the Ministry of Energy has engaged in a series of meetings aimed at re-engaging with foreign partners. These measures include exploratory meetings, investment discussions, and infrastructure development plans.

The oil supply agreement with the Autonomous Administration in North and East Syria (AANES) to the Banias and Homs refineries remains stable and ongoing, with foreign companies showing more interest in the sector. In recent weeks, the names of several foreign companies from Azerbaijan, Turkey, and the Czech Republic have surfaced, expressing interest in rehabilitating Syria’s energy sector.

Qatar announced plans to supply Syria with two million cubic metres of natural gas per day (cbmd) via the Arab Gas Pipeline that passes through Jordan, marking the first major initiative aimed at temporarily improving the country’s electricity supply following the ouster of the Syrian regime.