Iraqi government signs $3 billion power gen agreement with GE Energy

Baghdad, Iraq—December 16, 2008 — The Iraqi Ministry of Electricity and GE Energy announced today at a ceremony in Baghdad that they have signed an agreement for power generation equipment and services valued at nearly $3 billion to provide much-needed electricity to support Iraq’s future economic development.

Under the agreement, GE Energy is providing heavy-duty frame 9E multi-fuel gas turbines capable of supplying 7,000 MW of electricity. The Government of Iraq plans to install the units at key sites around the country to provide needed support for the electricity grid.

Currently, Iraq’s daily power generation output averages less than 6,000 MW, while the demand is typically more than 10,000 MW. The GE turbines can provide a platform for power stability thus helping address electricity shortages and position Iraq for future economic growth.

The agreement follows the Government of Iraq’s previous order with GE in May 2008 for eight gas turbines capable of generating 600 MW to meet short-term power requirements in Iraq.

As part of the agreement, GE Energy will also provide technical advisory services, performance testing and spare parts to support the reliable operation of the turbines. In addition, GE will provide technical and management training in order to help Iraq strengthen its power sector workforce for the future.

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