Technical and Economic Assessment of the Implementation of 60 MW Hybrid Power Plant Projects (Wind, Solar Photovoltaic) in Iraq

The growing global demand for sustainable energy solutions has spurred interest in hybrid renewable energy systems, particularly those combining photovoltaic (PV) solar and wind power. This study records the technical and financial feasibility of establishing hybrid solar photovoltaic and wind power stations in Iraq, Al-Rutbah and Al-Nasiriya, with a total power of 60 MW for each, focusing on optimizing energy output and cost-efficiency. The analysis evaluates key technical factors, such as resource availability, system design, and integration challenges, alongside financial considerations, including capital costs, operational expenses, and return on investment (ROI). Using the RETScreen program, the research explores potential locations and configurations for maximizing energy production and minimizing costs, and the evaluation is performed through the calculation Internal Rate of Return (IRR) on equity (%), the Simple Payback (year), the Net Present Value (NPV), and the Annual Life Cycle Savings (ALCSs). The results show that both PV and wind technologies demonstrate significant energy export potential, with PV plants exporting slightly more electricity than their wind counterparts. Al Nasiriya Wind had the highest output, indicating favorable wind conditions or better system performance at that site. The results show that the analysis of the proposed hybrid system has a standardizing effect on emissions, reducing variability and environmental impact regardless of location. The results demonstrate that solar PV is significantly more financially favorable in terms of capital recovery time at both sites, and that financial incentives, especially grants, are essential to improve project attractiveness, particularly for wind power. The analysis underscores the superior financial viability of solar PV projects in both regions. It highlights the critical role of financial support, particularly capital grants, in turning renewable energy investments into economically attractive opportunities.