General Electric (GE) signed Principles of Cooperation (POC) with the Iraqi Ministry of Electricity to develop the country’s power sector.
This plan is expected to generate up to 14 gigawatts (GW) of power
The POC was signed by Minister Qasim Al Fahdawi, Iraq’s Minister of Electricity, and Joseph Anis, President & CEO of GE’s Power Services in Africa, South Asia
The comprehensive plan builds on GE’s legacy of continuous presence and commitment to bring progress to the people of Iraq over the past 50 years.
It supports the path to energy security with 14 GW. As an immediate priority, GE will deploy proven fast power technologies and undertake upgrades at existing power plant sites to bring approximately 1.5 GW of additional power online by 2019 – the equivalent electricity needed to supply up to 1.5 million Iraqi homes, as well as undertake maintenance and rehabilitation services to secure the availability of another 7 GW that are currently operating.
In addition, the agreement includes upgrades and services for existing power plants; the conversion of simple cycle power plants to combined cycle, which can help bring new power online without consuming additional fuel or releasing further emissions; as well as the establishment of new power plants with efficient, reliable power generation technology.
Furthermore, GE will develop substations and overhead lines across the country, and a centralized energy management system covering generation, transmission
Realizing $3 billion in savings and recoverable losses annually. Overall, GE’s activities will help the Government realize savings and recover losses of up to $3 billion per year. Repairs, maintenance, upgrades
To further improve the transmission and distribution of power, GE will undertake comprehensive decongestion network studies, as well as advisory services to reduce collection recoverable losses. In addition, GE is offering its unique solution for integrating the capture of flared gas and power generation using GE’s advanced Gas to Power technologies. In July, Baker Hughes, a GE company signed a contract with the Iraqi
GE will assist the Government of Iraq to unlock financing for these projects through its extensive relationships with Global Export Credit Agencies and financial institutions.