The energy technology group Siemens Energy intends to further expand its cooperation with Iraq in the coming years.

The intention is to develop projects with a capacity of more than six gigawatts over the next five years, a spokesperson told Reuters on Friday. These include the construction of conventional power plants, the expansion of renewable energies and the stabilization of the electricity grid. Group CEO Christian Bruch intends to agree a declaration of intent with Iraqi Electricity Minister Ali Sadhil in the course of the day.

"A secure power supply is one of the foundations of a stable society," Bruch told Reuters. Electrification of large parts of an entire country is therefore one of the most important tasks. Together with its partner from Iraq, Siemens Energy will do everything in its power to ensure that this is achieved as quickly as possible.

According to the company, the current road map follows on from an agreement made in 2019, which includes projects with a volume of more than one gigawatt up to 2023.

(Report by Tom Käckenhoff, edited by Ralf Banser. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)