GE has signed the principles of cooperation (POC) with the Iraqi Ministry of Electricity to develop the country?s power sector
The plan is expected to generate up to 14 GW of power, create up to 65,000 direct and indirect jobs, support the government to realise savings and recoverable losses of up to US$3bn per year, establish a local technology centre and support water access and healthcare.
The POC was signed by minister Qasim Al Fahdawi, Iraq?s minister of electricity, and Joseph Anis, president and CEO of GE?s Power Services in Africa, South Asia and the Middle East. 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.
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 1.5mn Iraqi homes, as well as undertake maintenance and rehabilitation services to secure the availability of another seven 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 centralised energy management system covering generation, transmission and distribution. These initiatives will add up to 14 GW of power and strengthen grid connectivity.
GE?s activities will help the government realise savings and recover losses of up to US$3bn per year. Repairs, maintenance, upgrades and other services will help to reduce the operating costs of existing power plants. 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.
The company will also offer 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 Ministry of Oil for a modular natural gas plant solution for flared gas recovery in the Nassiriya and Al Gharraf oilfields.
GE will assist Iraq to unlock financing for these projects through its extensive relationships with Global Export Credit Agencies and financial institutions.
As part of the proposals included in the POC, as well as GE?s commitment to a shared future and the progress of the Iraqi people, the company plans to establish a local technology centre consisting of repairs centre, monitoring and diagnostics centre and a training centre.
It also intends to supply three trailer-mounted mobile water treatment units to help deliver drinking water to contribute to the everyday needs of the people of Basra. The company also plans to provide neo-natal intensive care equipment and advanced medical care training for nursing staff at a neo-natal intensive care centre to meet the need for specialised healthcare services.
Mussab Almudaris, official spokesperson of the Iraqi Ministry of Electricity, said, ?Our focus is on rebuilding Iraq to provide stable, sustainable development for our people, and developing the electricity sector is a critical component of these efforts. GE?s action plan is an ideal fit for our needs, offering a holistic package that brings industry-leading technologies, financing and social services to meet our most critical immediate and long-term needs.?
Russell Stokes, president and CEO of GE Power, added, ?Our presence in Iraq is based on a history of trust, partnership and success that spans more than 50 years. We are honoured to support the government?s focus on rebuilding Iraq, and we are proud of our legacy of delivering power where needed in the country. We understand how important it is to deliver power immediately and our holistic action plan brings together advanced solutions, financing, local investments, training and social services that are expected to benefit families, businesses and industries across Iraq.?
