Iran to export electricity to Russia via Armenia

Business Materials 5 November 2013 15:28 (UTC +04:00)

Baku, Azerbaijan, Nov. 5

by Umid Niayesh-Trend: Armenia has agreed Iran's electricity export to Russia through its territory, Mehr news agency quoted Iranian Energy Minister, Hamid Chitchian as saying on November 5.

Iran will export electricity to Russia, Chitchyan said adding that according to one project the electricity will be transmitted through Armenia and Georgia, and according to another project, through Azerbaijan.

Chitchian and his Armenian counterpart Armen Movsisyan also agreed on new energy projects including establishment of a new hydroelectric power plant on the River Aras dam and boosting the level of electricity barter between the two countries.

The two countries will establish a new electricity power transmission line for boosting energy trade volume, Chitchian said, remarking that the project which will be the third power transmission line between two countries has progressed by 10 per cent.

Iran exports $800 million worth of electricity to neighbouring countries each year, he added.

Iran currently trades power with Turkey, Azerbaijan, Armenia, Turkmenistan, Pakistan, Afghanistan, Syria and Iraq.

The country's power generation capacity is currently at 68.38 GW.

Iran seeks to become a major regional exporter of electricity and has attracted more than $1.1 billion in investments for the construction of three new power plants.