GE Vernova signs 24GW Iraq agreement
11 April 2025
US-headquartered energy technology provider GE Vernova has signed a memorandum of understanding (MoU) with the Iraqi government for the establishment of 24GW of combined-cycle gas turbine power plants in the country.
Iraq Prime Minister Mohammed Al-Sudani oversaw the MoU signing, which falls within a strategic cooperation framework with the US-based original equipment manufacturer.
The MoU includes provisions for securing external financing through "major global banks", the Iraq Prime Minister's Office said in a Facebook post on 9 April.
Iraq's Electricity Ministry (MoE) also signed a second MoU, with UGT Renewable Group, to implement a "fully integrated solar power project with a capacity of 3GW along with battery energy storage systems of up to 500 megawatt-hours (MWh)".
The prime minister's office said the MoU includes the modernisation of power transmission and distribution lines; the development of up to 1,000 kilometers of new high-voltage direct current (HVDC) transmission infrastructure; and a two-year programme for technology transfer, training, operation and maintenance.
It is unclear if the power and transmission scope falls within the GE Vernova or UGT Renewable Group's MoU.
The statement added that the project will be financed by the US Export-Import Bank (Exim), the UK Export Finance Agency, and JP Morgan, which will serve as the lead arranger.
Al-Sudani also presided over the signing of a third MoU between the Federation of Iraqi Chambers of Commerce and the US Chamber of Commerce to formalise and expand the economic cooperation between the two countries.
In February, GE Vernova completed the upgrades of “several key” power plants in Iraq.
The overall upgrade project covers 46 gas turbines across 12 power plants, adding up to 500MW to Iraq’s national grid before the summer of 2025.
According to GE, some of the power plants included in this project have already transitioned from heavy fuel oil (HFO) to natural gas, with a capacity increase of approximately 260MW. These plants include Ninawa, Al-Diwaniyah, Hilla, Karbala, Shat Al-Basra, Najibiya, Samawa, Dhiqar, Al-Khairat and Al-Haidariya.
GE Vernova added that other plants are expected to be modernised within the summer of 2025, with an expected additional increase in capacity of approximately 250MW.
In addition, the firm announced the successful installation of its Advanced Gas Path (AGP) upgrades on several 9. E gas turbines powering the Al-Quds and Dhiqar power plants, and MXLII upgrades on 13E2 gas turbines powering the Al-Mansouriya power plant.
Iraq periodically suffers from power outages, especially during the summer months, when increased cooling requirements overwhelm its power plants and electricity grid.
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