GE announces more than $1.4 billion in power generation orders with Iraq’s Ministry of Electricity
January 18 2017 - 9:11AM
Business Wire
GE (NYSE:GE) announced today that it has secured more than $1.4
billion in orders from Iraq’s Ministry of Electricity to set up
power plants as well as provide technology upgrades and maintenance
services. The announcement further strengthens GE’s collaborations
in Iraq to support the country’s power infrastructure and meet the
growing need for electricity.
GE signed agreements that will add over two gigawatts (GW) of
power and secure the delivery of ~1.75 GW of existing power to the
national grid:
- GE will set up the Samawa and Dhi Qar
Power Plants, adding 1,500 megawatts (MW) to the grid. In the first
phase of the project, GE will install four 9E gas turbines in
simple cycle at each site by 2018. The second phase will entail the
combined cycle conversion of the 9E units. GE is also supplying
advanced heat recovery steam generators (HRSG) and steam turbine
technology as well as serving as the engineering, procurement and
construction (EPC) contractor for the projects.
- Under Phase II of the Power Up Plan – a
plan with the Iraqi Ministry of Electricity (MoE) for critical
electricity generation and maintenance projects throughout the
country - GE will add over 580 megawatts (MW) to the national grid
through upgrade and rehabilitation works at four power plants.
- Additionally, under Power Up Plan Phase
II, GE will sustain ~1.75 GW of existing power generation through
the maintenance of 9E gas turbines across six different power
plants in Iraq. The activities will help enhance the reliability
and efficiency of Iraq’s installed base.
GE has also been working with regional and international
institutions to facilitate financing to help the Government of Iraq
execute these and other projects. Since 2016, GE has helped the
country secure $2 billion in financing for projects in the energy
sector leveraging its global sourcing capabilities coupled with its
strong relationships with lenders.
Musaab al-Mudarris, official spokesman, Iraqi Ministry of
Electricity, said, “Today’s announcement with GE is another strong
statement on our commitment to strengthen the nation’s power
infrastructure. We are focused on delivering reliable,
uninterrupted and efficient electricity supply for both residential
and commercial use. With demand for electricity increasing every
year, a transformational approach is required that is led by new
projects and technology upgrades.”
“We are pleased to be working in collaboration with the Ministry
of Electricity to continue to help provide power to the people of
Iraq,” said Steve Bolze, president & CEO of GE Power. “Using
GE’s expanded portfolio of technologies and solutions, this project
will provide more reliable and sustainable electricity for the
country to help achieve better operations and higher levels of
efficiency.”
Today’s announcement builds on GE’s successful delivery of more
than 700 megawatts (MW) of additional power through existing power
generation infrastructure to the national grid last year as part of
the Power Up Plan’s Phase I.
GE has over 40 years of presence in Iraq, and supports the
country’s infrastructure needs in power generation, oil & gas,
water processing, aviation and healthcare, through diversified
multi-business solutions and local presence. Today, over 130 GE
turbines are in operation in Iraq apart from ongoing agreements to
support power generation plants across the country. With three
offices in Iraq - in Baghdad, Erbil and the southern oil & gas
hub of Basra – GE continues to deliver its latest technology and
expertise to local customers. The company has created more than 250
employment opportunities in the country, with nearly 95 percent of
them filled by Iraqis.
Join the conversation at our GE Hewar blog:
http://middleeast.geblogs.com/
About GE:
GE (NYSE:GE) is the world’s Digital Industrial
Company, transforming industry with software-defined
machines and solutions that are connected, responsive and
predictive. GE is organized around a global exchange of
knowledge, the "GE Store," through which each business shares and
accesses the same technology, markets, structure and intellect.
Each invention further fuels innovation and application across our
industrial sectors. With people, services, technology and scale, GE
delivers better outcomes for customers by speaking the language of
industry. www.ge.com
About GE Power:
GE Power is a world leader in power generation with deep domain
expertise to help customers deliver electricity from a wide
spectrum of fuel sources. We are transforming the electricity
industry with the digital power plant, the world’s largest and most
efficient gas turbine, full balance of plant, upgrade and service
solutions as well as our data-leveraging software. Our innovative
technologies and digital offerings help make power more affordable,
reliable, accessible and sustainable. www.gepower.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170118005743/en/
External Communications Director, GE, MENATCaroline Wehbeh+9714
4296318caroline.wehbeh@ge.comorASDA’A Burson-MarstellerKelly Home |
Nivine William+9714 4507 600kelly.home@bm.com | nivine.william@bm.com
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Mar 2024 to Apr 2024
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Apr 2023 to Apr 2024