"Iraq is taking significant steps to help improve its electricity infrastructure and we are pleased to be working alongside the Ministry of Electricity on modernizing these four critically important power plants,” said Siemens CEO Tim Holt.
“Through a number of technology and operational enhancements, these power plants will benefit from improved efficiency, output and performance, thereby providing reliable power to meet the needs of Iraq and its citizens,” he added.
The project will oversee upgrade services and maintenance of four power plants with a total of seven power generating units in the Middle Euphrates, Middle Region, Salahadin and South Basra regions.
The agreement calls for Siemens to implement service and maintenance work in the four power plants to enhance efficiency and reliability.
The average Iraqi household receives power for just 7.6 hours a day, according to recent data from a report by the Iraq Energy Expo. As a result of the shortfall, homes have to obtain half their power needs from generators.
Though Iraq is a major OPEC oil producer, the country has been incapable of meeting its residents' electricity consumption. Iraq's peak electricity demand was 21,000 megawatts in the summer and the grid is only able to supply about 13,000 megawatts.
Iraq’s electrical grid has been further weakened during the three-plus year with ISIS.
Siemens hopes the upgrade services will nearly double power generation capacity and save up to 10 percent in fuel consumption, enough to supply approximately three million Iraqis with reliable electricity.
