Iraq plans power build up

Project finance departments will be keeping a close eye on Iraq as the Kurdistan regional government announces ambitious plans to massively grow its power generation by 6,000MW.

This is equal to roughly 10 gas-fired plants working at full capacity, though the government has said that it intends to develop gas, heavy fuel oil and hydro-powered facilities.

In Iraqi Kurdistan’s first competitive programme of its type, the tenders for the plants will come through a series of independent power projects.

The move comes less than two months after Baghdad halted its own independent power project programme.