• Upgrades to 46 GE Vernova gas turbines across 12 power plants are projected to add over 500 megawatts (MW) to Iraq’s national grid by summer 2025.
• Advanced Gas Path (AGP) enhancements at Al Mansouriya, Al-Quds, and Dhiqar power plants have increased power capacity by 6%.
• Comprehensive maintenance and upgrade projects spanning multiple power plants have reinforced a total generation capacity of 3.7 gigawatts, enhancing long-term grid stability.

Baghdad, Iraq (February 5, 2025) — Iraq’s Ministry of Electricity (MoE) and GE Vernova Inc. (NYSE: GEV) have successfully advanced key power infrastructure projects, significantly improving the efficiency and capacity of Iraq’s energy sector. These upgrades align with the country’s broader strategy to modernize power generation and ensure a stable, reliable energy supply.

The large-scale modernization initiative covers 46 gas turbines at 12 power plants, with an expected contribution of up to 500 MW to the national grid by mid-2025. This effort enhances operational flexibility and improves efficiency, availability, and power output. Several plants—Ninawa, Al Diwaniyah, Hilla, Karbala, Shat Al Basra, Najibiya, Samawa, Dhiqar, Al Khairat, and Al Haidariya—have already transitioned from heavy fuel oil (HFO) to natural gas, increasing total capacity by approximately 260 MW. Additional modernization efforts at remaining plants are expected to further raise capacity by around 250 MW before the summer peak season.

Moreover, GE Vernova has completed the installation of Advanced Gas Path (AGP) upgrades on 9.E gas turbines at Al-Quds and Dhiqar power plants, alongside MXLII upgrades for 13E2 gas turbines at Al Mansouriya. These enhancements are projected to boost power output by up to 6%, allowing Iraq to generate more electricity with the same fuel input, optimizing energy efficiency.

Additionally, under the service and upgrade agreement signed in 2024 with the Ministry of Electricity, GE Vernova has finalized comprehensive maintenance programs at several power plants, including Qayyarah, Diwaniyah, Al-Haydariyah, and Baghdad South, supporting a total capacity of 3.7 gigawatts. These initiatives are key to enhancing Iraq’s power infrastructure reliability.

Eng. Ziyad Ali Fadhil, Iraq’s Minister of Electricity, stated: “These extensive modernization efforts play a crucial role in expanding our power generation capabilities and ensuring stable electricity supply, particularly during peak demand periods. The focus on efficiency improvements enables higher output without increasing fuel consumption, reducing carbon emissions per unit of energy produced. Partnering with globally recognized companies like GE Vernova is instrumental in achieving the Ministry’s long-term energy goals.”

Joseph Anis, President & CEO of Gas Power for Europe, the Middle East & Africa at GE Vernova, stated: “We take pride in our continued collaboration to advance the Ministry of Electricity’s strategic goals, enhancing power generation efficiency across Iraq while accelerating the country’s energy transition. The successful and timely execution of these projects aligns with GE Vernova’s commitment to modernizing Iraq’s energy infrastructure and delivering more efficient, sustainable energy solutions.”

In October 2024, GE Vernova announced the early completion and commissioning of five vital 132-kilovolt substations throughout Iraq. Additionally, on November 18, 2024, the Al Rasafa Center substation was successfully energized, more than two months ahead of the original timeline.

Earlier that year, in April 2024, GE Vernova formalized a Memorandum of Understanding (MoU) with the Iraqi government in Washington, D.C., coinciding with the visit of Prime Minister Mohammed Shia’ Al-Sudani to the United States. The agreement was signed under the patronage of Prime Minister Al-Sudani, with the presence of Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Swad, alongside Roger Martella, GE Vernova’s Chief Corporate Officer, Chief Sustainability Officer, and Head of Government Affairs.

Over the past decade, GE Vernova has played a pivotal role in strengthening Iraq’s energy infrastructure, contributing up to 19,000 megawatts to the national power grid. The company has also built 30 substations and completed the initial phase of Iraq’s electricity grid interconnection with Jordan. Additionally, GE Vernova has facilitated access to over USD 3 billion in energy project financing for Iraq and remains dedicated to fostering local talent development and workforce training initiatives.

Forward-Looking Statements

This document contains forward-looking statements, which discuss future events that inherently involve a degree of uncertainty. These statements often refer to GE Vernova’s anticipated business and financial performance, product efficiency, service impact, and projected outcomes. Common terms in such statements include “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” and “range.” Forward-looking statements inherently involve variables such as planned and potential transactions, investments, or projects, their projected outcomes, and the effects of macroeconomic conditions and market volatility on GE Vernova’s operations, financial results, and global supply chain dynamics.

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