GE in $328m deal to improve Iraqi power capacity

The Iraqi government has agreed a $328.8m deal with General Electric (GE.N) to equip ans service ten major power plants.

The move is motivated by Iraq’s need to boost electricity production capacity, currently far short of what is required.
Iraq is still emerging from years of conflict and sanctions and the 1,000 MW set to be added are aimed at addressing power shortages associated with damaged power infrastructure.

Ministry spokesman Musab al-Mudaris told Reuters, “We asked the government to increase the ministry’s investment budget for 2016 because, with the current austerity measures, the country’s power grid could collapse.”

The problem is particularly acute in the summer. Peak demand then, when people turn on air conditioners to combat temperatures that can reach 50 degrees Celsius, is about 21,000 MW, far exceeding the 13,000 MW the grid is currently providing, according to Mudaris.

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