UKEF helps GE and Enka UK secure contract to support Iraq's energy security
UKEF has provided a guarantee to support the government of Iraq in its contract with the GE-led consortium.
This support will finance the early stages of construction of two GE-powered 750-megawatt gas-fired power plants at Dhi Qar and Samawa in southern Iraq.
Once complete, the power plants will help to alleviate severe energy shortages in Iraq, supporting the country’s infrastructure development and energy security. Further financing may follow to support additional UK procurement.
UKEF and the Department for International Trade teams in Iraq and Turkey are working closely with Enka UK and GE to source at least $250 million worth of goods and services from the UK to deliver the projects in coming months.
A supplier fair was held in March, in partnership with energy sector bodies NOF Energy and the Energy Industry Council, to connect companies in the UK supply chain with the projects. ■