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Siemens Energy plans to expand cooperation with Iraq

Variety

13-01-2023 | 08:05

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Siemens Energy plans to expand cooperation with Iraq

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Siemens Energy (ENR1n.DE) plans to expand its cooperation with Iraq by developing projects with a capacity of over 6 gigawatts in the next five years, a company spokesperson said on Friday.

Among other things, this will involve the construction of conventional power plants as well as developing renewable energies and stabilising the power network, the spokesperson told Reuters.

Siemens Energy CEO Christian Bruch plans to sign a memorandum of understanding on the plans with Iraqi Electricity Minister Ali Sadhil over the course of Friday, according to the spokesperson.

Iraqi Prime Minister Mohammed Shia al-Sudani is visiting Berlin on Friday together with a high-level delegation, where he will meet German Chancellor Olaf Scholz.

"A reliable power supply is the foundation for a stable society," Bruch told Reuters. "Electrification of large parts of an entire country is therefore one of the most important tasks of our business."

He said the company would work to ensure that this is achieved as quickly as possible together with its partners in Iraq.

Siemens Energy said the current roadmap ties in with a 2019 agreement that includes projects with a volume of more than 1 gigawatt by 2023.

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