Stellar Energy: Our projects signed with Iraq will contribute to reducing grid bottlenecks

Economy
  • 19-01-2025, 21:22
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    Baghdad - INA

    Stellar Energy Company in Iraq and the Middle East confirmed today, Sunday, that its projects signed today with the Iraqi Ministry of Electricity will contribute to reducing grid bottlenecks and improving its reality while confirming that it has two projects that have been launched earlier and are expected to add 600 megawatts

    The company's CEO, Gordon Lyon, said in a statement to the Iraqi News Agency (INA), that "the agreement signed today between the company and the Ministry of Electricity came with direct support from the Prime Minister and the Minister of Electricity," noting that "the agreement aims to implement strategic projects in the field of electricity transmission and distribution, which contributes to improving the energy reality in Iraq and reducing grid bottlenecks."

    Lyon explained that "the company has a long record of projects, including work on the Kirkuk power stations as well as the Sadr station in Baghdad, which is expected to contribute to producing about 600 megawatts over the next two years."

    He added that "Stellar Energy continues to support the Ministry of Electricity by providing the necessary financing from accredited international banks, which enhances its ability to implement future projects."

    He pointed out that "the agreement will enter into force after completing the official procedures, including addressing the Ministry of Planning to include the loan in the upcoming budget. After that, the Ministry of Electricity will form a team to prioritize the projects and distribute them according to the needs of the sector, so that implementation can begin according to a well-studied work plan."