IFC to finance CCGT conversion in Iraq

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IFC to finance CCGT conversion in Iraq

The International Finance Corporation (IFC) is considering to provide a loan to and invest up to USD250 million to complete the conversion of  the 1,000 MW Sulaymaniyah Gas Power Station (SGPS) located at the Chamchamal area, Iraq.

The plant will be converted to a more energy efficient Combined Cycle Gas Turbine (CCGT) power plant by adding eight Heat Recovery Stream Generators and two Steam Turbine Generators (250 MW each), bringing the total generation capacity to 1,500 MW with significantly improved electricity generating efficiency.

ENKA, a Turkish company, is the engineering, procurement and construction (EPC) contractor for the conversion. The EPC scope of work includes installation of a 400 kV switchyard within the existing SGPS site. 

The plant is owned and operated by Mass Global Energy Sulaymaniyah (MGES), an entity established for this purpose. The company is was establised by Mass Energy Global Holding (MEGH) and independent power producer.

The conversion work from OCGT to CCGT started in July 2013, and is expected to be completed in 2016. 

Additionally, IFC's financing will support release MEGH equity to allow it to meet its equity obligations needed to continue its construction of a 3,000 MW Bismayah IPP located outside of Baghdad.

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