The Council of Ministers in Iraq has recently approved two contracts to address the high demand for electricity during the summer peak load. The first contract was between the Ministry of Electricity and (Mass Holding Company) to supply electrical energy to the northern region and the national system for a period of three months. This decision was made in response to the extreme heat in some cities and governorates, as well as financial regulations.
In addition, another contract was approved with (Kar Company) to supply electrical energy from Turkey at a reduced price for three months. This decision was also made to address the increased demand for electricity during the summer months. The Council also authorized the Minister of Finance to sign a financing loan agreement for the development of electricity production stations in various locations.
The Prime Minister’s media office issued a statement highlighting the importance of accelerating plans for the development of the electricity sector. The Council also approved the inclusion of contracted projects as ongoing projects to facilitate signing loan agreements and ensure timely completion, based on borrowing approval in the Federal General Budget Law for upcoming years.
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