Tag Archive | "Electricity"

The latest electricity news from Iraq – power plants, fuel, construction and more – brought to you by Iraq Business News

Al-Abadi Receives World Bank Director


By John Lee.

Prime Minister Dr. Haider Al-Abadi recently received in his office the director of the World Bank in the Middle East and North Africa, Mr. Farid Belhaj, and the Special Representative of the World Bank Mission in Iraq, Mr. Robert Bu Jodah.

The meeting discussed the challenges of Iraq’s economy caused by the global drop of oil prices in addition to reorganizing the economy in Iraq, the government support to private sector, and turning the challenges of Iraq into opportunities for real reforms besides following up the results of the meeting between PM Dr. Al-Abadi and Director of the World Bank on the margin of Davos Forum last month.

Dr. Al-Abadi mentioned that the government is continuing in implementing its economic reforms and supporting private sector; “this is what we started to seek for through ratifying the budget of this year which adopted abstinence” and “the government started in this project and it has plans in this field but it needs the help and experience of the World Bank”.

H.E. emphasized the determination of the government to activate a retirement system which guarantees the rights of all Iraqis including those who work in the private sector.

On its part the delegation of the world bank expressed its intention to provide all kinds of support to Iraq and its readiness to establish programs and projects to activate public Banks, cooperate with the Iraqi Central Bank, rehabilitate the state owned companies in addition to supporting infrastructure projects like electricity and water.

(Source: Office of the Prime Minister)

Posted in Banking & Finance, Construction & Engineering, Industry & Trade, Public WorksComments (0)

Shares in APR Rise on Basra Contract


By John Lee.

Shares in APR Energy were up 3 percent on Wednesday morning after the company announced that it has signed a contract renewal for its power generation contract in Iraq, taking the term through the end of 2015.

The power plant has been in operation since 2012 and comprises six GE TM2500 mobile gas turbines capable of generating more than 120MW of electricity. APR Energy acquired the plant in 2013 as part of its acquisition of GE’s power rental business.

Located in Basra, the gas-fired power plant provides reliable base load power and grid stability to the population of the Basra province, as well as supporting oil and gas, petrochemical and agricultural industries.

Commenting on the contract renewal, APR Energy’s Managing Director for Europe, Middle East and Africa, Ranjit Singh said:

Our fast-track solution is providing Basra residents and industries with reliable power, helping to fill critical needs and supporting economic and social stability. Mobile turbine technology helps stabilise the grid, uses approximately a third of the space required by a mobile reciprocating engine site and requires only a small team to operate and maintain.

“This renewal reflects our customer’s ongoing demand for electricity, as well as our proven ability to deliver large-scale power quickly, reliably and consistently.

Laurence Anderson (pictured), APR Energy Chief Executive Officer added:

I’m very pleased to have renewed this significant contract in Iraq, which follows on the heels of our 135MW contract extension and expansion in Indonesia.

“Our focus following the acquisition of the GE power rental business has been to renew the former GE contracts under more favourable terms or else relocate the assets to higher-value opportunities, and this renewal is very much aligned with that strategy.

(Sources: APR Energy, Yahoo!)

Posted in Construction & Engineering, Public WorksComments (4)

Turkey Sends Power-Generation Ship to Basra


By John Lee.

Turkey is to send a power-generation ship to Basra to help alleviate its electricity shortages.

The announcement was made by Turkish Energy Minister, Taner Yildiz, on Sunday during the 17th Turkey-Iraq Joint Economic Commission meeting in Baghdad.

According to Worldbulletin, the ship will add 410 megawatts to the existing capacity of 250 MW in the city.

Turkey-based Karadeniz Holding is a major player in the power ship market.

(Source: Worldbulletin)

Posted in Industry & Trade, Public WorksComments (2)

Iran Wins $40m Iraq Cable Contract


By John Lee.

An Iranian company has struck a $40-million deal with Iraq for the supply of high voltage cables.

Alireza Kolahi, the Managing Director of Abhar Cable & Wire Co., said the contract was won despite competition from Malaysia, South Korea, Turkey, Italy, Germany, Switzerland, UAE and Saudi Arabia.

He said the Iraqi electricity industry has $400 million potential by 2030.

(Source: IRNA)

Posted in Construction & Engineering, Industry & TradeComments (10)

Iraq to Start Importing Gas from Iran in May


By John Lee.

A director of the National Iranian Gas Company (NIGC) has said that Iran plans to begin supplying natural gas to Iraq on a regular basis by May of this year.

Azizollah Ramezani said about six to seven kilometers of the pipeline has yet to be laid on the Iraqi side of the border.

The two countries signed an agreement in July 2013 to transfer natural gas from Iran to the Iraqi power plants of Al-Baghdad and Al-Mansouriyah.

(Source: Tasnim News Agency)

Posted in Oil & GasComments (1)

$3bn Power Plant for Bismaya


By John Lee.

Reuters reports that Mass Global will partly finance a $3-billion power plant in Bismaya.

The gas-fired, 3,000-megawatt plant is being built by Turkey’s Enka Insaat, whose chairman Sinan Tara said it would be financed partly from Mass Global’s equity and partly from Iraqi lenders.

The project will be built in two phases of 1,500 MW each.

The companies have already worked together on power plants in Erbil and Sulaymaniyah.

(Source: Reuters)

(Picture: new housing project at Bismaya).

Posted in Construction & Engineering, Public WorksComments (3)

Iranian-Built Power Plant Opens


By John Lee.

Iraq has inaugurated a 162-MW power station designed and built by Iran’s MAPNA Group in the Heidarieh district, some 25 km north of Najaf.

Iran’s PressTV reports that the opening ceremony on Thursday was attended by the Iranian and Iraqi energy ministers.

According to the report, Iran’s Energy Minister, Hamid Chitchian, said his country is prepared to promote “all-out relations” with Iraq, especially in the electricity sector.

Iran’s annual electricity exports to Iraq are valued at one billion dollars, with Baghdad importing 1,300 MW of electricity from Iran.

(Source: PressTV)

Posted in Construction & Engineering, Public WorksComments Off

French to Help Develop Electricity Sector


By John Lee.

Iraq’s Minister of Electricity, Qasim Mohammad Abid Hammadi al-Fahadawi [Qassim al-Fahdawi] held a meeting with the French Ambassador to Iraq, Marc Barety, on Sunday.

The Ambassador congratulated the Minister on his new role, and assured the Minister of the full support of the French government and private sector companies in the development of Iraq’s electricity infrastructure.

(Source: Ministry of Electricity)

Posted in Construction & Engineering, Public WorksComments Off

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