Iraq’s Council of Ministers authorized the Ministry of Finance to finalize a loan agreement supported by German and international export credit agencies to further the progress of this major energy initiative. This financial backing will facilitate the implementation of MOE- Eight Phase II under the ongoing energy cooperation arrangement with Siemens Energy. The project, currently under construction, is scheduled for completion in the fourth quarter of 2029 and marks a key milestone in the nation’s long-term energy strategy.
The latest energy agreement, signed in the presence of Iraq’s Prime Minister and the German ambassador, signifies the third phase of Iraq’s strategic partnership with Siemens Energy. It includes two crucial long-term maintenance contracts targeting core generation facilities. These include a service agreement for 340 megawatts at the Dibis Gas Power Plant and a five-year contract at the Al-Mussaib Thermal Power Plant, intended to maintain 750 megawatts while adding 150 megawatts. Notably, the new generation facilities will utilize locally sourced fuel and incorporate combined-cycle technology, improving efficiency without increasing fuel consumption.
This initiative is a cornerstone of Iraq’s broader vision to elevate its national generation capacity to 38,000 megawatts, a significant leap from the current 28,000 megawatts. The project aligns with the country’s commitment to prioritizing energy development as a foundation for economic growth and infrastructure resilience. Through continued collaboration with international partners, Iraq aims to establish a modern, reliable energy sector that supports national development goals and regional energy security.
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