Al-Sudani Sponsors Signing Ceremony of Three Memoranda of Understanding in Electricity and Trade with the United States

Baghdad-INA  

Prime Minister Mohammed Shia al-Sudani sponsored the signing ceremony of two memoranda of understanding in the field of electricity and another one between the Iraqi and American Chambers of Commerce today, Wednesday.
 
The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA): that "Prime Minister Mohammed Shia al-Sudani sponsored the signing ceremony of a memorandum of understanding, within the framework of the principles of cooperation with GE Vernova, which includes projects for combined-cycle gas-fired power plants with a capacity of approximately 24,000 megawatts, in a plan that is the largest and most modern in Iraq's history, with the possibility of securing external financing from international banks."
 
According to the statement "Also, in the electricity sector, Al-Sudani sponsored the signing ceremony of a second memorandum of understanding, which includes principles of cooperation between the Ministry of Electricity and the UGTRenewable Group. The memorandum aims to establish an integrated solar energy project with a capacity of 3,000 megawatts, battery energy storage systems of up to 500 megawatt-hours, modernize electricity transmission and distribution lines, and construct up to 1,000 km of new high-voltage direct current transmission infrastructure. This will also include a two-year period for technology transfer, training, operation, and maintenance, with financing from the US Export-Import Bank, the UK Export Agency, and JP Morgan as the arranging bank."
 
  "The Prime Minister also sponsored the signing ceremony of a third memorandum of understanding between the Federation of Iraqi Chambers of Commerce and the American Chamber of Commerce, within the framework of strengthening and enhancing bilateral economic cooperation."
 
The statement emphasized that "the memorandum includes nine articles aimed at expanding communication between institutions, companies, organizations, and businessmen in Iraq and the United States of America; to strengthen existing economic, cooperative, scientific, and technological relations; and to develop cooperation between small and medium enterprises in the two countries."