GE signs $1B agreement to power up Iraq
Iraq, Baghdad: GE has announced signing a $1 billion power up plan with the Iraqi Ministry of Electricity (MoE) for critical electricity generation and maintenance projects throughout the country.
The power up plan comprises a set of technological solutions and upgrade projects to ensure essential incremental power, adding 700 MW to the national grid in time for the summer period, according to the company press release.
The value of the contracts signed totals more than $1 billion, with financing already in place for the initial stage of the projects equalling $328 million.
“We are committed to strengthening our infrastructure to meet the growing demand for electricity, particularly during peak summer months,” Mussab Al Mudaris, speaker of the MoE, said.