Syria Signs $7B Power Deal After Sanctions Lifted

Syria has signed a $7 billion agreement with a Qatar-led consortium, including UCC Holding and partners from Turkey and the U.S., to construct four combined-cycle gas power plants and a 1,000-megawatt solar plant aimed at doubling Syria’s electricity supply. The deal, facilitated by the lifting of U.S. sanctions under President Donald Trump, marks Syria’s first major postwar reconstruction effort and is projected to generate over 50,000 direct jobs. U.S. envoy Thomas Barrack attended the signing in Damascus and advocated for a Syria-Israel non-aggression pact. The consortium will use advanced U.S. and European technology, with construction due to start following financial closure and completion expected in two to three years. The new facilities are projected to supply over half of Syria’s electricity needs, addressing the severe power crisis and supporting infrastructure recovery. The agreement also reflects renewed global investor interest and regional cooperation.