GE Finalizes 2.7GW Power Projects Financial Deal In Iraq

GE Finalizes 2.7GW Power Projects Financial Deal In Iraq

GE said it has reached a financial close with Iraqi Ministry of Finance (MoF) and its financial partners for the Power Up Plan 4 (PUP4). The financial close - a critical milestone that marks the final step of a loan agreement becoming effective - will see GE provide capital and spare parts, repairs and services to the Qudus, Khairat, Baghdad South, Hilla, Mussayab, Haidariya and Karbala power plants to help maintain more reliable generation of up to 2. 7 gigawatts (GW) of electricity for the Iraqi people. As part of these efforts, 20 gas turbines that are currently not operational at these sites will also be returned to service. GE said it had played a key role in bringing the Iraqi ministries of finance, electricity and planning together with various financial institutions, including export credit agencies, commercial banks and others, to secure financing for the project. The technology major had supported the development of Iraq's energy infrastructure for over 50 years. In the north, GE's teams helped power liberated areas with the rehabilitation of Mosul's Al Qayara Power Plant. In central Iraq, the company is helping to equip, operate and maintain the country's largest combined cycle power plant - the