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Adjusted EBITDA rises to $2.36bn.

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The H1 revenue stood at $2.72 billion.

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The company posted a net profit of $692m.

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Schneider Electric says electricity use in Iraq rising annually by 10 percent

Electricity consumption is rising by 10 percent annually in Iraq.
  • The increase in energy requires a robust distribution network and large stations.
  • The company said it works in gas and oil in Basra, and there are projects to expand oil discovery.

Consumption of electrical energy is increasing by 10 percent annually in Iraq, which necessitates a robust distribution network,
said the French company Schneider Electric.

Schneider has signed an MoU with Iraq’s Ministry of Electricity for the development of the electric power distribution network in the country, local media reports said.

Schneider’s regional director in Iraq, Emer Takdemir, told the Iraqi News Agency (INA), that it requires great efforts to deliver electricity to all parts of Iraq and build large stations.

He said, “We are trying to work on advanced technology and present it for the reconstruction of Iraq.”

Walid Shati, the director of Schneider Electric for the Middle East and North Africa (MENA), said the company has several projects in electricity, Internet and digital technology in the country and it supported Iraqi efforts.

“We work in gas and oil in Basra, and there are projects to expand oil discovery, and we have efforts in the electrical sector and distribute it more,” he said.