Business | General
Iraq signs power deal with GE energy
The Iraqi Ministry of Electricity and GE Energy yesterday said they have signed an agreement for power generation equipment and services valued at nearly $3 billion (Dh11 billion) to provide much-needed electricity to support Iraq's future economic development.
- Staff Report
- Published: 23:27 December 17, 2008
Dubai: The Iraqi Ministry of Electricity and GE Energy yesterday said they have signed an agreement for power generation equipment and services valued at nearly $3 billion (Dh11 billion) to provide much-needed electricity to support Iraq's future economic development.
The announcement is a significant milestone as the country seeks to rapidly develop its energy infrastructure and increase its electricity production.
Under the agreement, GE Energy is providing heavy-duty frame 9E multi-fuel gas turbines capable of supplying 7,000 megawatts of electricity.
The government of Iraq plans to install the units at key sites around the country to provide needed support for the electricity grid.
GE's 9E gas turbine technology has proven reliability and performance in more than 400 applications worldwide.
Demand
John Krenicki, GE vice-chairman and president and chief executive of GE Energy, said, "Electricity is the backbone for quality of life and economic growth. We can bring the strength and dependability of GE's advanced power generating technology and services to Iraq's mission to address long-term electricity demand."
More than 6,000 GE gas turbines are installed worldwide, and have accumulated more than 200 million hours of operating experience at unparalleled reliability levels.
Currently, Iraq's daily power generation output averages less than 6,000 megawatts, while the demand is typically more than 10,000 megawatts.
The GE turbines can provide a platform for power stability helping address electricity shortages and position Iraq for future economic growth.
The agreement follows the government of Iraq's previous order with GE in May 2008 for eight gas turbines capable of generating 600 megawatts to meet short-term power requirements in Iraq.
GE has a long history with Iraq and its infrastructure, one that dates back to the 1970s.
Share this article
More from Business General
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Shaikh Mohammad reaffirms UAE unity
Vice-President quashes talk of discord and reassures investors on the strength of Dubai's economy
-
Pizzazz on the palm: A Nikki Bisiker project
Bright, bold and ultra glam are the top notes of this apartment in The Palm Jumeirah's beautiful marina
-
flydubai starts service to Sudanese capital
Dubai's first low cost airline, celebrated its eighth inaugural flight in less than six months
