Iran, Azerbaijan agree on power trade

Business Materials 30 March 2018 15:52 (UTC +04:00)

Baku, Azerbaijan, March 30

By Khalid Kazimov – Trend:

Iran has concluded an agreement with Azerbaijan for the purchase of 150 megawatt of power, a senior official said.

Iran’s Energy Minister Reza Ardakania has said that the agreement on his country’s power purchase from Azerbaijan was made during the recent visit of President Hassan Rouhani to Baku.

Speaking to Iran's Radio Economy on Friday, the minister added that the two countries currently enjoy a total capacity of 700 MW for power exchange.

In the meantime, the sides have decided to take measure aimed at synchronizing the power grids of Iran, Azerbaijan and Russia.

While Iran’s nominal capacity for power generation currently stands at 78,421 MW, Russia and Azerbaijan respectively enjoy a capacity of 280,000 MW and 7,172 MW. Iran plans to add 3,000 MW to its capacity over the current fiscal year.

President Rouhani concluded his two-day visit to Baku on March 29 where the sides inked eight agreements on cooperation in various sectors, including energy.