General Electric (GE) has secured two contracts worth more than $1.2bn from the Government of Iraq’s Ministry of Electricity to upgrade and maintain key power plants in the country.
The contracts are expected to help meet the requirements of growing demand for electricity during peak summer in the country.
Go deeper with GlobalData
As per the first contract valued at $500m, GE will upgrade and maintain key power plants in the country, which will supply more than 6GW and also bring operational efficiency.
The second contract, worth $727m, will be honoured by GE’s Grid Solutions, by strengthening the country’s transmission network and interconnection with the electricity grid of Jordan.
Furthermore, GE has committed to work with several export credit agencies in facilitating over $1bn for the projects.
Iraq Minister of Electricity Majid Al-Emara said: “Our primary focus is to deliver uninterrupted electricity, especially during summer months, to meet the needs of our people and industry. To achieve this, we have already rolled out a clear action plan. Bringing world-class technology, especially to upgrade our power plants, and to ensure their seamless operation is a critical part of this strategy.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“The new agreements with GE, a leader in power technology, is an ideal fit for our requirements, and builds on the strong partnership we have with the company to deliver more power for the nation.”
The first contract will be executed by GE Gas Power. This contract will help the ministry in identifying parts, repairs and services for power plants in Basra, Mosul, Baghdad and Karbala among others and will maintain power supply of over 6GW.
The 6GW includes the company’s 1.575GW capacity built last year and the remaining power supply of 4.325GW.
GE Gas Power CEO Scott Strazik said: “GE has a long history in Iraq, and we continue to deliver on our promise to the nation and its people. In recent years, we have further accelerated our project execution to scale up and rebuild the country’s electricity infrastructure. As demand for power increases in tune with a growing population and to support industries and developmental projects, identifying gaps and addressing them is our focal area.
“We are thankful to the Iraqi government for their confidence in our capabilities to deliver power where and when needed. The new agreements will contribute to a more reliable and stronger power infrastructure, which is the top priority of the government.”
For the second contract, GE’s Grid Solutions will design, supply, install, test and commission high voltage substations and specific overhead transmission lines. Considered to be an important step, it will help in providing uninterrupted power from the national grid across Iraq.
—————————————————————————————————————————————————-
GE to upgrade power infrastructure in Iraq. (Credit: Pixabay/Emilian Robert Vicol)
