GE in Iraq
GE and Iraq’s Ministry of Electricity announced agreements worth $1.4 billion to deliver power generation equipment and services to support the growing need for electricity in the country. The agreements will enhance and provide stability to the country’s energy infrastructure by adding over 2 gigawatts (GW), and securing the delivery of ~1.75 GW of existing power to the national grid.
“The agreements with GE are another strong statement on our commitment to strengthen the nation’s power infrastructure. We are focused on delivering reliable, uninterrupted and efficient electricity supply for both residential and commercial use,” said Musab Al-Mudaris, a spokesman of the Ministry of Electricity. “The public private partnership with GE serves as a new business model where we work with our partners to secure financing and technology, enabling faster project delivery.”
Power Up Plan
A significant part of the deal includes the Power Up Plan – an initiative with the Iraqi Ministry of Electricity (MoE) for critical electricity generation and maintenance projects throughout the country. Phase I of the plan added more than 700 megawatts (MW) of power to the grid in 2016. The new deal sees the launch of phase 2 of the Power Up Plan, which will add 580 MW through upgrades and rehabilitation works at four power plants and sustain ~1.75 GW of existing power generation through the maintenance of 9E turbines across six power plants.
GE will also set up the Samawa and Dhi Qar Power Plants, adding 1,500 megawatts (MW) to the national grid and supply advanced heat recovery steam generators (HRSG) and steam turbine technology for the projects.
“We are pleased to be working in collaboration with the Ministry of Electricity to continue to help provide power to the people of Iraq,” said Steve Bolze, President & CEO of GE Power. “Using GE’s expanded portfolio of technologies and solutions, this project will provide more reliable and sustainable electricity for the country to help achieve better operations and higher levels of efficiency.”
GE has also been working with regional and international institutions to facilitate financing to help the Government of Iraq execute these and other projects. Since 2016, GE has helped the country secure $2 billion in financing for projects in the energy sector, leveraging its global sourcing capabilities coupled with its strong relationships with lenders.