Wednesday 22 May 2024

Iraq approves power plant investments

Dubai, February 27, 2014

Iraq’s cabinet has approved opportunities for investment for up to 6,000MW of new power capacity, said a top minister.

Speaking at the MEED’s Iraq Energy Projects conference which concluded today (February 27), Karim Aftan Al-Jumaili, Electricity Minister, told delegates that 21,000MW of new power capacity was planned in order to meet forecasted capacity in the coming years.

About 6,000MW of new capacity is in the contract negotiation phase while an additional 15,000MW project was under study, he stated.

Al-Jumaili also highlighted opportunities in converting existing power plants from simple open-cycle to the more energy efficient combined-cycle technology.

There are plans to convert about 8,000MW of existing capacity to combined-cycle, he added.

In addition to building a new generation capacity and improving transmission and distribution networks, the minister also spoke of the government’s plans to introduce legislation to reduce wastage in the sector.

As part of efforts to make plants more efficient, the ministry was planning to reduce the use of crude oil in power generations, and switch to gas turbines in all plants, said Al-Jumaili.

The conference also highlighted Basra’s energy vision, focusing on project priorities and the current security situation, while an official progress update including new opportunities for the private sector and schedule for on-going projects to meet power demand was also presented. - TradeArabia News Service

Tags: investment | Iraq | Cabinet | project | power | approve |

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