General Electric (GE) has secured two new contracts for total worth more than $1.2bn from the Government of Iraq.
The Iraqi Ministry of Electricity has awarded the contracts to increase power stability in the country and to meet the growing demand for electricity during the peak of summer.
Under the terms of the deal, GE Gas Power will undertake contracts worth $500m for the upgrade and maintenance of the country’s key power plants, which are crucial to sustain the power supply of over 6GW.
GE’s Grid Solutions secures contract worth $727m
The other contract valued at $727m has been awarded to GE’s Grid Solutions to strengthen Iraq’s transmission network and interconnection with the electricity grid of Jordan.
The scope of work includes design, supply, install, test and commissioning of high-voltage substations and specific overhead transmission lines.
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.
“Bringing world-class technology, especially to upgrade our power plants, and to ensure their seamless operation is a critical part of this strategy.
“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 company said that it will also work with a number of export credit agencies to facilitate the discussion of financing of over $1bn for the projects.
GE Gas Power CEO Scott Strazik said: “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.”
