Azerbaijan to invest in Iranian power, tourism projects
Baku, Azerbaijan, Apr.25
By Fatih Karimov - Trend: An Azerbaijani company will invest in a geothermal power plant and also some tourism projects in Iran's northwestern city of Meshkinshahr, Ebrahim Emami, the governor of Meshkinshahr said.
Although the official did not reveal the company's name, he said that if an agreement is reached, the company will invest up to $55 million in the projects, Iran's IRNA news agency reported on April 25.
To date, 11 wells with over 3,200 meters of depth have been drilled within the power plant's premises at a cost of $35 million, he noted.
Geothermal electricity is electricity generated from geothermal energy. Technologies in use include dry steam power plants, flash steam power plants and binary cycle power plants.
The Meshkinshahr geothermal power plant will be the first of its kind in the Middle East and will generate 33 megawatts of electricity.
In September 2014, Yousef Armoudeli, managing director of Renewable Energies Organization of Iran, said that Iran will establish its first geothermal power plant in Meshkinshahr within the next 2 years.