Iran power capacity to hit 70 GW by March

Business Materials 29 October 2012 11:32 (UTC +04:00)

Azerbaijan, Baku, Oct.29 /Trend F.Milad/

Iran plans to increase its installed power generation capacity to 70 GW by the end of the current Iranian calendar year, which began March 20, Iranian Energy Minister Majid Namjou said, ILNA News Agency reported

According to Namjou, Iran's installed power generation capacity is currently about 67 GW.

On Sunday, Namjou said the private sector in Iran will establish eight power plants, of which three will be built in the near future.

The power plant projects will be financed by the National Development Fund, he said, adding that the project swill add 12 gigawatts (GW) to the national power generation capacity.

According to him, the Energy Ministry plans to increase the electricity generation capacity by 5 GW this calendar year, which ends on March 20, 2013.

Iran will sell shares of forty four power plants, worth 220 trillion rials (about $18 billion) to the private sector.