Siemens in 700m EUR Power Deal

Germany's Siemens has signed contracts with the state-owned utility General Electricity Company of Libya (GECOL) to expand Libya’s power generation capacity by approximately 1.3 gigawatts (GW).

Under these contracts Siemens will build a 650 MW open cycle power plant in Misrata, equipped with two F-class gas turbines (pictured), and a 690 MW open cycle power plant in Tripoli West, equipped with four E class gas turbines. The total volume of EPC contracts, including long-term service agreements, is in the range of 700 million euros.

Joe Kaeser, President and CEO of Siemens AG, said:

"Libya needs a reliable and affordable power supply to set the stage for a prosperous and promising future for the Libyan people.

"As a trusted partner, Siemens will provide Libya with innovative and sustainable infrastructure solutions that are essential for the economic development of the country and its people."

Siemens has been supporting Libya with technology and expertise since the 1950s.

Willi Meixner, CEO of Siemens’ Power and Gas Division, added:

"Around 30 percent of Libya’s installed power generation capacity is based on Siemens technology that delivers electricity for two million people.

"After completion, the power plants in Misrata and Tripoli West will help the country to solve the ongoing challenges caused by frequent and unpredictable power cuts."

(Source: Siemens)

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