Around 85 percent of Iran’s power industry bonds sold out

Iran Materials 4 September 2012 11:22 (UTC +04:00)

Azerbaijan, Baku, Sep.4/ Trend F.Milad/

Some 85 percent of the bonds, which had been issued by Iran's energy ministry to finance hydroelectric power projects nationwide, have been sold out, the IRNA news agency reported.

On May 13, Iran started selling 7.5 trillion rials (around $600 million) in bonds to finance 15 power plant projects.

"The energy ministry will roll out power projects that will increase Iran's electricity generation capacity by 5 GW this calendar year, which began on March 20," Deputy Energy Minister Mohammad Behzad said in April.

He added that over 10 GW should be added to the generation capacity of hydroelectric and thermal power plants by August 2013, the last month of President Ahmadinejad's administration, the Fars news agency reported.

Iran's nominal electricity generation capacity stands at 63 around gigawatts (GW), ranking the country at the 15th place in the world, official at Iran Power Generation Transmission and Distribution Management Company (TAVANIR) Abdorrasoul Pishahang said.

"Iran is the top electricity producer in the Middle East, as well," Abdorrasoul Pishahang added.

He noted that some 450 power stations are currently in operation across the country.