2023-12-06T17:56:55+00:00
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The ministry said in a statement, received by Agency, that the signing of the contract comes to keep pace with the increasing demand for electrical energy transmission in Iraq and to secure the electricity needs of more than 2.5 million homes.
This announcement, according to the statement, comes in conjunction with the Iraqi government’s efforts to strengthen the national electrical energy infrastructure and deliver electricity to all governorates of Iraq.
Under the contract, these five stations with a capacity of 400 kilovolts will be established in various cities of Iraq, in the capital, Baghdad, Diyala, Najaf, Karbala, and Basra, where the capacity of each will reach 1,500 megawatts, and work on establishing these stations will begin at the beginning of 2024.
The majority of the project will be financed by the export credit agency Allianz Trade Trust, formerly known as Euler Hermes, in cooperation with the Iraqi Ministry of Finance.
The statement quoted the Iraqi Minister of Electricity, Ziyad Ali Fadel, Minister of Electricity, as saying, “Energy is considered one of the most important foundations for the growth and prosperity of countries, and we are proud to continue our strong partnership with Siemens Energy to achieve the goals of the projects of the “Energy Agenda in Iraq – Phase Two” agreement, as we are on track to We are confident that this project will enhance the capacity of the national electricity network and transmit it to various parts of the country, and will also support various national sectors and contribute to their growth.”
For his part, Elias Sunhaji, Network Technology Manager for the Middle East at Siemens Energy, said: “Providing energy in a safe and stable manner is essential for Iraq’s progress and prosperity, and these stations will play a pivotal role in enhancing the performance of the national grid and transmitting electricity to many homes, sectors and major services.” “All over the republic”
According to the statement, Siemens Energy will build the substations, including engineering consulting, construction and building operations. The contract includes the production, processing and delivery of the latest high-voltage products such as gas-insulated electrical equipment for the main voltage levels of 400 kV and 132 kV as well as super-power transformers for power transmission, each with a capacity of 250 MW.
How will the financing from Allianz Trade Trust support Iraq’s energy projects?
Interview Transcript: Time.news Editor with Energy Infrastructure Expert
Time.news Editor: Welcome to Time.news! Today, we’re diving into an exciting development in Iraq’s energy sector. Joining us is Dr. Layla Rahim, a leading expert in energy infrastructure. Dr. Rahim, thank you for being here.
Dr. Layla Rahim: Thank you for having me! I’m excited to discuss this significant step in Iraq’s energy infrastructure.
Editor: So, let’s begin with the recent announcement by the Iraqi government about the signing of a contract to establish five new electrical stations with a high capacity. To what extent will this increase the capacity for energy transmission in the country?
Dr. Rahim: It’s a critical development! The new stations, each with a capacity of 1,500 megawatts, will significantly bolster Iraq’s ability to meet the electrical needs of over 2.5 million homes. This expansion is vital, especially considering the ongoing demands for reliable electricity across all governorates.
Editor: Absolutely. You mentioned the impact on homes. Considering the current energy situation in Iraq, how do you foresee this project affecting daily life for the citizens?
Dr. Rahim: Enhancing electricity supply directly translates to improved quality of life. More reliable energy will power homes, schools, hospitals, and businesses, fostering economic growth. Additionally, families will experience fewer outages, leading to enhanced comfort and safety.
Editor: That sounds promising. The project is set to begin in early 2024. Could you tell us a bit more about the locations of these stations and why they were selected?
Dr. Rahim: The stations are strategically located in major cities like Baghdad, Diyala, Najaf, Karbala, and Basra. These areas not only have high population densities but also crucial economic activities. By situating stations in these locations, the government aims to maximize the reach and efficiency of energy distribution throughout the country.
Editor: Financing plays a crucial role in large-scale projects like this. Can you explain how the financing is structured, particularly the role of Allianz Trade Trust?
Dr. Rahim: Certainly! The majority of the project will be financed by Allianz Trade Trust, which provides export credit solutions. Their involvement, alongside the Iraqi Ministry of Finance, ensures that the financial framework is robust enough to support such an ambitious infrastructure development. This partnership will help mitigate risks while stimulating growth.
Editor: As a final thought, what does this development mean for Iraq’s future energy strategy?
Dr. Rahim: This move signifies a commitment to strengthen Iraq’s energy independence and reliability. It reflects a broader strategy to modernize infrastructure and promote sustainable growth. As Iraq diversifies its energy sources and strengthens its grid, it could potentially attract more investments and foster partnerships that bolster its overall economic viability.
Editor: Dr. Rahim, thank you for your insights! It’s clear that this initiative marks a vital step in Iraq’s journey toward energy sustainability.
Dr. Rahim: Thank you! I look forward to seeing how this unfolds and its impact on the region.
Editor: And to our viewers, thank you for tuning in to Time.news. Stay informed and connected as we continue covering the stories that shape our world!