Economy News – Baghdad
Today, Minister of Electricity, Ziad Ali Fadel, convened a meeting with representatives from the German company Siemens, alongside several general managers from the Ministry of Electricity.
During the meeting, discussions centered on the company’s initiatives in energy transmission and distribution networks.
The Minister emphasized that “strategic partnerships with premier global energy firms such as Siemens are crucial to the Ministry’s efforts to modernize the electricity infrastructure and enhance the operational efficiency of national networks.”
“Our goal is to broaden technical cooperation and transfer advanced expertise in the realms of renewable energy and smart grid technologies. This will strengthen the skills of our personnel and facilitate a significant transformation within the electricity sector,” he added.
The Siemens delegation expressed a willingness to support the Ministry’s energy development initiatives, highlighting the advanced technologies and expertise that the company brings to the table.
Notably, the collaboration between Iraq and Siemens has progressed significantly within the electricity sector. Several agreements have been established since 2023 aimed at improving the electrical infrastructure.
In January 2023, a memorandum of understanding was executed in Berlin to enhance the electrical system, covering the establishment of associated gas generation and investment facilities. Subsequently, in March 2023, three contracts were finalized for the maintenance and rehabilitation of generating stations with a total capacity of 1,400 megawatts. Additionally, March 2024 will see agreements focused on using the accompanying gas as fuel for electricity generation.
Furthermore, in July 2024, a consensus was reached to construct five transformational stations to fortify the electrical transport network. These initiatives are designed to boost network stability and optimize production efficiency in Iraq.
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