Iran to launch new gas power plant by mid of July

Oil&Gas Materials 1 July 2020 17:38 (UTC +04:00)
Iran to launch new gas power plant by mid of July

TEHRAN, Iran, July 1


The CEO of Ghadir Energy Investment Company Farid al-din Ma`soumi announced the launch of the first gas unit of Qeshm power plant, which will be put into operation by the mid of July, Trend reports via IRNA.

"The Qeshm power plant was completely built with domestic resources. Its second gas unit will be put in operation following the first one," he said.

Masoumi pointed out that Qeshm power plant has a nominal capacity of 170 MW and a steam unit with a capacity of 160 MW.

Ma`soumi said that Qeshm power plant has the ability to meet the needs of 300 MW of the Qeshm island, and efforts are being made to supply its surplus to Hormozgan province network grid.

Ma`soumi said of the total 308-million euro investment on this project, about 60 million has been alreasdy spent.

"Part of the funds has been provided by the National Development Fund, while the other one is on the shareholders," he said.

Ma`soumi said that there currently are no plans to offer shares of the plant on the stock market, as its electricity sales are being done in accordance with guaranteed purchase contracts.