General Electric signs two agreements with Iraq worth 1.2 billion dollars … These are their details

General Electric signs two agreements with Iraq worth 1.2 billion dollars … These are their details

20/8/2020 10:07

General Electric signs two agreements with Iraq worth 1.2 billion dollars ... These are their details{Baghdad: Where News} The Iraqi government signed two new agreements with General Electric Company as part of its continued focus on strengthening the country’s electrical energy infrastructure, and its deep keenness to meet the growing electric power needs, especially with peak demand during the summer months.
The value of these two agreements amounts to $ 1.2 billion, or $ 500 million with General Electric for gas energy to implement the modernization, maintenance and vital service of a number of electric power plants, which will enhance efficiency levels and help preserve more than 6 thousand megawatts of electric power and 727 $ 1 million with the GE Renewable Energy Network Solutions business unit to enhance the power transmission network in Iraq, improve its stability and connect it with the power grid in Jordan.

In this context, General Electric Gas Energy will undertake the implementation of contracts in the country amounting to half a billion dollars in order to improve and maintain the main power plants in Iraq, which are a vital pillar to maintain the generation of 6 thousand megawatts of electric power and enhance the operational efficiency of the network Transmission of electric power in Iraq and linking it with the power grid in Jordan, after signing a contract to implement this project worth 727 million dollars.

In addition to implementing its mandated services, GE will also work closely with a number of export credit agencies to discuss securing more than $ 1 billion in financing for these projects.

In the presence of Prime Minister Mustafa Al-Kazemi and a group of officials in the governments of Iraq and the United States of America, the partnership agreements were signed by His Excellency the Iraqi Minister of Electricity, Majid Mahdi Al-Amara, and Mr. Michael Isho, Vice President and Chief Financial Officer of General Electric Gas Energy.

In this context, Minister of Electricity Majed Mahdi Al-Emara said: “Our main focus is on ensuring the continuity of the supply of electric power without interruption, especially in the summer months that witness peak demand for them to meet the needs of our people and various business fields. In our relentless pursuit to achieve these goals, we have already launched There is no doubt that introducing advanced technologies at the global level, especially those aimed at modernizing our power plants and ensuring smooth and smooth operations, constitute major pillars of our strategy. The new agreements signed with the leading company in energy technologies, General Electric, are an ideal option. To meet our requirements, and based on the close partnership that brings us together to generate more electricity in the country. ”

In turn, Scott Strazik, CEO of GE Gas Energy, said: “GE has a long-standing presence in Iraq, and we are working to fulfill our promises to the country and its people. During the past years, we have worked to continue the pace of project implementation and development and rebuilding the infrastructure of the sector. At a time when the demand for electric power is rising with the increasing number of the population, and with the aim of supporting various sectors and establishing development projects in the country, we are working to identify areas of imbalance and fill the current gaps as a top priority.

We thank the Iraqi government for the confidence it has placed “With regard to our capabilities to supply the necessary energy to the areas that need it in the country whenever needed, and there is no doubt that the new agreements will clearly contribute to laying the foundations of a more reliable and robust infrastructure in the energy sector.”

Heiner Markov, CEO of Network Solutions at General Electric, said: “The importance of these agreements goes beyond the mere transmission of electrical energy in Iraq, as they lay the foundations for the necessary infrastructure for the country’s power transmission network and are found to advance development and pave the way for Iraq to achieve the desired positive change in its various cities. We are very proud to be able to continue to support the growth of reliable and sustainable infrastructure for electric power in Iraq. There is no doubt that these partnerships will meet the aspirations of millions of the Iraqi people and provide them with electric power, and will advance the economic development in Iraq. ”

The service agreement signed between the Ministry of Electricity and General Electric Gas Energy is a vital program for modernization and maintenance, and provides for the implementation of the maintenance program at several project sites in Iraq. General Electric will be keen on employing the latest technologies in these sites in order to maximize the benefit to the Ministry, such as supplying spare parts and carrying out repair and service operations in electric power plants in Basra, Mosul, Baghdad, Karbala and others, which will bear fruit in maintaining the supply of more than 6 thousand megawatts of electric power.

This comes in addition to the company’s success in adding 1575 gigawatts of electrical energy in Iraq since December 2019, and its continued supply of 4,325 gigawatts to meet the peak demand during the summer season.

The agreement signed between General Electric’s Network Solutions business unit and the Ministry of Electricity aims to strengthen the Iraqi power transmission network and connect it with the network in the Hashemite Kingdom of Jordan, in a step that will greatly contribute to removing the pressure on the network and providing electric power according to the highest levels of reliability.

General Electric will undertake the design task; And supply; Installation, testing and commissioning work on designated high-voltage substations and overhead transmission lines. Within the framework of a major initiative that will enhance the flow of operations in the national electric power grids in various parts of Iraq, the company will help supply energy to many areas severely affected during the conflicts that arose in them, and will provide all means of support for the reconstruction of these areas.