Siemens signs MoU to repower Iraq
Iraq, Baghdad: Siemens and the Ministry of Electricity of the Republic of Iraq have signed an agreement to seek the implementation of the company’s roadmap for repowering Iraq.
The Memorandum of Understanding (MoU), signed by Qasim Al-Fahdawi, Minister of Electricity, and Joe Kaeser, President and CEO of Siemens AG, will examine a series of short, medium and long-term plans to meet the reconstruction goals of Iraq and support the country’s economic development, Siemens said in the press statement.
Under the “Roadmap for the Electrification of the New Iraq”, Siemens is planning to add 11 GW of power generation capacity over four years to ensure 23 million Iraqis across the country have reliable and sustainable electricity 24/7. This would boost current generation capacity by almost 50 percent.
Among the Roadmap’s objectives are goals to reduce energy losses, introduce smart grids, strengthen the transmission grid, modernize existing power plants and add new generation capacities in deprived areas, as well as to connect Iraq to the Arab Gulf region.