Eco
Major electricity deals during May 2026 witnessed intense competition, with both Saudi Arabia and Iraq emerging as strong contenders, driven by the global need for more electricity sources during the current phase. These notable developments in the global electricity sector coincided with the significant expansion of investments linked to data centers and artificial intelligence, which have led to unprecedented increases in energy consumption rates, prompting governments and companies to accelerate the implementation of large-scale generation and storage projects. The prominent electricity deals in May 2026 revealed growing Arab interest in electricity storage projects and the localization of related industries, particularly in Saudi Arabia and Iraq. This unfolded in parallel with massive global expansions involving the United States, China, and several other emerging markets in recent months. Current developments indicate that competition is no longer limited to the establishment of traditional power generation plants but has extended to battery technologies and smart storage systems, which have become a pivotal element in ensuring grid stability and achieving the global transition towards clean energy. The list of the largest electricity deals in May 2026 included several key projects: * United States (a merger deal aiming to establish the world's largest electricity company). * Saudi Arabia (an agreement to build the first factory for producing electricity storage batteries). * Iraq (an agreement for the construction of the Najaf Thermal Power Plant). * China (the largest global deal for sodium-ion batteries). Iraq entered strongly into the major electricity deals for this month, following the signing of a contract to build the Najaf Thermal Power Plant. This high-capacity plant aims to support the stability of the national grid and reduce power outages, especially during the anticipated peak summer consumption this year. The Iraqi Ministry of Electricity signed the contract for the construction of the new plant, which has a capacity of 1400 megawatts, in the presence of government officials and electricity sector leaders. This initiative is part of a comprehensive plan to increase generation capacities and improve power supply in the central Euphrates provinces and neighboring areas. This step reflects the growing importance of Iraq's role in the list of global electricity deals, as the Iraqi government strives to address the chronic energy deficit crisis, concurrently with the implementation of maintenance and expansion plans for thermal and gas generation plants, as well as various renewable energy projects. Al-Ridha Group of companies will undertake the construction and development work for this vital project, which is expected to directly contribute to supporting the national grid and alleviating pressure on the electricity system, especially during daily peak hours in the summer. This project also falls within a broader government strategy aimed at enhancing generation efficiency and improving the reliability of electricity supplies, to meet the increasing electrical loads resulting from continuous urban expansion and population growth across various Iraqi provinces in recent years.
