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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Neom cancels The Line tunnels contracts
16 March 2026
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Neom has cancelled the contracts related to the construction of the tunnel sections of The Line in northwest Saudi Arabia.
In a stock exchange announcement filed on 13 March, South Korean contractor Hyundai E&C said that Neom cancelled its contract on 29 December last year.
Hyundai E&C was executing the drill-and-blast section of The Line’s tunnels in a joint venture with Greece’s Archirodon and South Korean counterpart Samsung C&T.
The firm said its share of the joint venture was about 35%, amounting to $483m.
Neom awarded contracts for constructing the mountain tunnel sections of The Line in June 2022.
The drill-and-blast works were split into four packages, with two contracting teams winning two packages each.
The other joint-venture team comprised Spain’s FCC, the local Shibh Al-Jazira Contracting Company (Sajco) and Beijing-based China State Construction Engineering Corporation.
The tunnels formed part of the infrastructure backbone of Neom’s 170-kilometre The Line development, launched in January 2021.
What began as Crown Prince Mohammed Bin Salman’s defining symbol of a post-oil Saudi Arabia unravelled with quiet finality over roughly two years. By April 2024, planners were reportedly being forced to cut the initial phase to just 2.4km by 2030.
By July last year, with the sovereign wealth fund facing tightening liquidity, the kingdom was reported to have conducted a “strategic review” to determine whether The Line was feasible – a process described as a “recalibration” of Vision 2030.
Resources are now being directed to projects essential for the Fifa World Cup 2034, Expo 2030, and critical housing, healthcare and education targets.
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Bidders get more time for Riyadh East sewage treatment plant
16 March 2026
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The new deadline is 30 June. The original deadline was 2 April.
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The request for proposals (RFP) was issued last October.
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ISTP plans
Sharakat’s current ISTP portfolio includes 10 large plants that are operational, under construction or under tendering, with a combined initial treatment capacity of 1.79 million cm/d.
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Modon launches Tara Park on Abu Dhabi’s Reem Island
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Abu Dhabi-based Modon Holding has launched the Tara Park residential project in the Reem Island area.
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The development includes a 527-metre jogging track.
The latest project launch follows Modon Holding’s launch of the Bashayer residential waterfront community on Hudayriyat Island.
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Jordan begins prequalification for Amman water project
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Saudi Arabia allows Hail airport bidders more time
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