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The giant energy companies, General Electric and Siemens, have signed agreements to provide electricity to Iraq and improve the country's energy sector.
The Ministry of Electricity said the new agreements were aimed at solving the electricity crisis in the country, including the rehabilitation of production units, the conversion of another number into cycles of electricity. vehicles, as well as the treatment of new power generation plants and other transformer stations of different capacities in the elected sites. Energy and distribution, required training of ministry staff, modernization of programs and use of modern technologies in the distribution sector.
The ministry said in a statement that new contracts and agreements, the value of which has not yet been disclosed, will be clarified later.
The two companies are expected to generate 25 gigawatts of energy, including 14 gigawatts generated by GE and 11 gigawatts from Siemens.
Siemens said it is ready to support Iraq's ability to produce electricity by adding 11 gigawatts to the national grid over the next four years to ensure the electricity supply of 23 Iraqi millions A reliable and sustainable electricity, which would increase the power generation capacity of Iraq up to 50%. "
The German company added that the economic feasibility of the plan provided fuel savings of the order of billions of dollars, as well as additional income in the energy sector related to the increase in the Electricity production capacity to support the development of the future of Iraq.
For its part, General Electric said it expects to generate 14 gigawatts of energy, 65,000 direct and indirect jobs, in accordance with a cooperation agreement signed with the Iraqi government.
The company is seeking to cover the $ 3 billion losses incurred by the Iraqi government due to inefficient energy sector, and plans to establish a local technology center as well as support the 39 access to water and health care.
General Electric and Siemens announced in separate official statements that they would help the Iraqi government obtain project financing from international institutions and banks, while Siemens said it would also benefit from support from the German government.
Siemens was the closest to securing energy deals in Iraq a few weeks ago, but the administration of US President Donald Trump intervened to pressure the Iraqi government so that it would not be in a safe environment. it awards contracts to General Electric, according to the Financial Times.
GE employs approximately 300 people in Iraq and has three offices in Baghdad, Basra and Erbil, which account for 55% of Iraq's current electricity production and produce approximately 4,000 health care products at its hospitals and clinics in Iraq.
Siemens said it presented the road map to the Iraqi government at the Kuwait Conference for the Reconstruction of Iraq, which was held in February 2018, while claiming to contribute to the production of more than 50 % of distributed energy in Iraq.
According to Simmons, energy demand in Iraq is growing by about 6% a year, which represents an additional 1,500 megawatts to be supplied every 12 months.
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