Search Site

Honda shares soar 16%

The surge came after the auto giant announced a $7bn buyback.

Mubadala acquires stakes from GHH

It acquired an 80 percent stake in Global Medical Supply Chain.

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

GE to develop Iraq’s power infrastructure, promote clean energy

    • GE will help Iraq develop power infrastructure

    • It will also promote clean energy in the country

    General Electric (GE) will help Iraq develop power infrastructure and promote clean energy in the country. The plan includes several key pillars that support the government’s goals to enhance Iraq’s power infrastructure, as well as promote decarbonization and energy sector diversification, GE said in a statement.

    The Energy Transition Plan was announced at the Rebuild Iraq event in Baghdad, a high-level summit organized in close collaboration with the Prime Minister’s Office and Iraq’s National Investment Commission.

    “It is now important to step up the drive toward cleaner energy systems that bring a triple advantage to the country,” Chief Technology Office at GE Gas Power Abdurrahman Khalidi said.

    Some specific actions under the plan include the maintenance, rehabilitation, and optimization of existing power plants in Iraq, which could potentially result in a 20 percent reduction in emissions.

    GE also plans to introduce the use of hydrogen for power generation, as well as to establish an interconnected grid that could make the country a regional energy hub. “This is the guiding strategy for our ‘Energy Transition Plan’ for Iraq and is the most comprehensive approach, covering all potential solutions the country can leverage,” Khalidi explained.