UK to support power projects in Iraq

UK to support power projects in Iraq

The UK is to support the construction of two 750 megawatt gas fired power stations in Iraq.

This comes as news that Japan is set to lend Iraq $195 million to repair a power station.

Instability in Iraq has led to severe energy shortages in an energy rich nation.

Greg Hands the UK’s International Trade Minister said: “The Department for International Trade through UK Export Finance is delighted to be supporting these power projects, which will significantly enhance the energy sector in Iraq.

“Construction of the projects also presents huge – and hugely exciting – opportunities for UK exporters, and clearly demonstrates the UK’s leadership in the energy sector.”

The UK is to provide £90 million in support for the two projects, which are being planned by Enka UK and General Electric.

The director of Enka UK, Yavuz Akturk, said: “We are very pleased to see UK Export Finance, the leading ECA active in Iraq, supporting these projects. It would not have been possible for us to enter into these projects with GE without their support.

“These projects will help the people in the country by increasing the electrification rate while providing great opportunities for UK exporters of goods and services to participate in these transformational projects in Iraq.”

Japan is also investing heavily in coal fired power in developing countries. One of these projects is a $3.55 billion coal plant in Indonesia.

 

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