GE Stock – GE announces energy transition plan for Iraq
GE has announced an “Energy Transition Plan” for Iraq, presenting its transformative strategies to support its evolution to a cleaner energy future
The Energy Transition Plan was announced at the Rebuild Iraq event in Baghdad, organised in close collaboration with the Prime Minister’s Office and Iraq’s National Investment Commission. It includes various pillars that support the government’s goals to enhance Iraq’s power infrastructure, as well as promote decarbonisation and energy sector diversification.
The main pillars of GE’s Energy Transition Plan are:
– Maintenance, rehabilitation, and optimisation of power plants: improving performance between 5-10% and converting assets for a potential 20% reduction in CO2.
– Flared gas utilisation: generating an additional 10 GW by turning flared gas in power.
– Combined cycle conversion: converting from simple cycle can add additional power with zero incremental fuel or emissions.
– Addition/displacement of inefficient generation: bringing advanced technology and modernising existing plants to reduce CO2 emissions.
– Use of hydrogen for power generation in concert with carbon capture technologies: can remove up to 90% of CO2 emissions from gas turbine exhausts.
– Transformation of Iraq into a regional energy hub: Enhancing an interconnected grid to be stronger, smarter, more reliable, and more sustainable.
Dr Abdurrahman Khalidi, chief technology officer of GE Gas Power – EMEA, said, “We have continuously focused on supporting Iraq’s power infrastructure development through end-to-end solutions, from securing financing to delivering cutting-edge technology. It is now important to step up the drive toward cleaner energy systems that bring a triple advantage to the country: deployment of diversified energy sources to meet growing demand; achieving decarbonisation commitments through the deployment of more efficient gas power and renewable energy sources; and setting a stable platform for safe, reliable, and cleaner energy for the future. This is the guiding strategy for our ‘Energy Transition Plan’ for Iraq and is the most comprehensive approach, covering all potential solutions the country can leverage.”