The Iraqi Minister of Electricity, Ziyad Ali Fadel, confirmed that the ministry is working with foreign companies to generate 35,000 megawatts.
In a statement to the Iraqi News Agency (INA), Fadel explained that the first round of investment in steam power plants has begun, noting that these plants are spread out across the country and have a 15,000 megawatt production capacity.
The initiative will help close the gap in the electrical energy system, according to Fadel.
According to a strategic plan and a financial model created by a specialized team of government consultants, Fadel noted that the ministry relied on locally available fuel while taking environmental specifications into consideration. He also noted that there will be highly transparent opportunities for both local and foreign investors.
The Ministry of Electricity in Iraq is in the final phases of agreements with General Electric (GE) and Siemens to generate around 35,000 megawatts, Fadel continued, adding that this is one of the measures that would significantly enhance the country’s energy sector.
There will be a clear financial plan to finance these projects, the electricity minister stated, and the steam power plants would take three and a half to five years to complete.
(Source: IraqiNews.com)
