“A major agreement signed today between Taurus Energy and General Electric—proof that Kurdistan is open for business with the world’s biggest companies. Proud to see global giants partnering with local firms to drive development. Slemani continues to lead Iraq in investment,” Deputy Prime Minister Qubad Talabani wrote on X.
Speaking at the contract signing ceremony, Talabani said that the Kurdistan Region has plans to become a major regional exporter of electricity.
The Bazyan power plant, a 500-megawatt facility in Sulaimani operated by Taurus Arm, supplies electricity to over 1.5 million homes in Iraq, including in regions such as Mosul, Kirkuk, and Salahaddin.
Rasheed al-Janabi, GE Vernova-Iraq president, explained that new technology will be used at the plant to increase reliability and efficiency significantly, decrease costs, and reduce operational risks.
Using the technology, the plant aims to increase its production to approximately 1,500 megawatts, using the same amount of gas, according to Janabi.
Saad Tayeb Hassan, CEO of Taurus Energy, said that “GE will implement all repairs, new technologies, and any global innovations” as part of the agreement, noting that the deal will allow for “more electricity production with less fuel, which will reduce the cost of electricity for the Kurdistan Regional Government.”
In 2022, GE Gas Power signed a 16-year agreement with Taurus Energy to provide parts, repairs, and services for two turbines at the Bazyan power plant.
At the ceremony, US Consul General Steve Bitner expressed his desire to see more partnerships between American, Iraqi, and Kurdish companies.
Unreliable electricity is a frequent headache in the Kurdistan Region. High demand, financial problems, and a shortage of fuel supplies mean power stations in the Kurdistan Region cannot always operate at full capacity, and the electricity ministry has been incapable of providing round-the-clock power.
When the national supply cuts out, people rely on private diesel-fueled generators that are costly and polluting.
