Iran attracts $6B for new power plants

Business Materials 25 August 2017 17:55 (UTC +04:00)

Tehran, Iran, August 25

By Mehdi Sepahvand –- Trend:

Since the implementation of the Joint Comprehensive Plan of Action (JCPOA), Iran has been able to attract $6 billion worth of foreign investment to construct new power plants, according to Thermal Power Plants Holding Company CEO Mohsen Tarztalab.

This is while before the nuclear deal, investment in new power plants had started on a downward trend, Tarztalab said, IRNA news agency reported August 25.

He expressed hope that the projects will undergo construction in the next three years.

Recently, former Deputy Minister of Energy Hushang Falahatian said in the four years from 2013 to 2017, 54 new power plants came on stream in Iran, adding 8,000 megawatts to the country’s power output, which reached 77,000 megawatts.

He noted that plans are in place to increase the number to 80,000 megawatts by the summer of 2018.

Statistics indicate that Iran generated 118.309 TWh of electricity during March 21-July 28. The volume was less than 110 TWh during the same period of last year.

Iran’s nominal power generation capacity stood at 77.104 GW as of July 28.

Country has consumed 26.938 billion cubic meters of gas (+9.4% Y/Y) as well as 572 million liters of diesel (+6.3% Y/Y) and 577 million liters of fuel oil (-32% Y/Y) during the during March 21-July 28.

In peak times this summer, the country witnessed a consumption of over 53,600 megawatts. This is while the country’s electricity output stands at 54,000 megawatts. The most recent peak indicates a rise of 1,000 megawatts compared to last year’s peak.