Economy News – Baghdad
The Minister of Electricity, Ziyad Ali Fadel, announced a strategic initiative aimed at enhancing Iraq’s energy capacity by an additional 10,000 megawatts. This announcement coincides with the imminent signing of an agreement with General Electric for the rehabilitation of the Mansouriya power station.
In a discussion, the Minister highlighted ongoing contracts with General Electric and Siemens for the annual maintenance of power units. He indicated that a new agreement with General Electric for the Mansouriya Station, focused on an installation of 750 megawatts, is on the verge of finalization. Furthermore, he mentioned that a comprehensive study is underway to explore the feasibility of expanding capacity by 24,000 megawatts.
Fadel elaborated on the obstacles faced, identifying fuel availability and necessary financial allocations as critical challenges to executing such large-scale projects. To address these issues, the government is collaborating with advisors and teams from the Ministry of Planning and Finance to develop effective financing mechanisms for these initiatives.
Currently, the productivity of Iraq’s power sector, following maintenance work and the expected return to natural gas utilization, is projected to reach 27,000 megawatts. However, actual production stands at 17,000 megawatts due to declines in imported gas. The anticipated demand for energy remains between 32,000 to 35,000 megawatts.
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