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Foreign firms seek to invest in Iran's electricity industry

Business Materials 15 September 2014 12:52 (UTC +04:00)

Tehran, Iran, September 15

By Milad Fashtami - Trend:


Deputy Energy Minister Houshang Falahatian said that major European and non-European companies have declared their readiness to invest in Iran's electricity industry.

"Iran is also willing to cooperate with foreign firms to construct new solar and wind power plants, as well as increasing the efficiency of current plants," he explained, Iran's IRIB News reported on Sept. 15.

"We are currently reviewing two offers for construction of two solar power pants with the generation capacity of 500 and 1000 megawatts," he added.

Iranian Energy Minister Hamid Chitchian said on Sept. 9 that Russia plans to invest $10 billion in construction of eight new thermal power plants in Iran. The plants' total production capacity would be 2,800 megawatt (350 megawatt each).

"Four of the mentioned power plants will be constructed in [the southern city of] Bandar Abbas, two others in [the central city of] Tabas, and the remaining two in [the western city of] Sahand New City," Chitchian said, adding that the environmental studies are underway to construct two power plants in northwestern Tabriz city.

According to the Iranian minister, Russia companies will carry out renovation operations in Ahvaz's Ramin power plant and Isfahan's Shahid Montazer power plant.

According to Russian Energy Minister Alexander Novak, Moscow plans to do renovation operations in four Iranian power plants in cooperation with Iran Power Generation Transmission & Distribution Management Company (TAVANIR).

The country's power generation capacity is currently over 70 gigawatts.

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

Edited by CN

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